AgFeed Industries (FEED) NewsBite - FEED Falls on Lower Grain Futures

Posted: Monday, June 15, 2009 11:09 AM EDT
By: Market Intelligence Center Staff

AgFeed Industries (NGM: FEED) opened at $6.80. So far today, the stock has hit a low of $5.81 and a high of $6.94. FEED is now trading at $6.43, down $0.73 (-10.2%). Over the last 52 weeks the stock has ranged from a low of $0.90 to a high of $15.40. Shares of FEED are trading lower today, hurt by declining grain futures. Technical indicators for the stock are bullish and S&P does not currently have a STARS rating for FEED. If you are looking for a hedged play on FEED the stock seems like it could be a candidate for a July out-of-the-money bear-call credit spread above the 7.50 range. [ABR-Seven Summits Strategic Investments NewsBite]