Rambus (NasdaqNM: RMBS) NewsBite - RMBS Rises on Court Decision

Posted: Friday, August 14, 2009 10:40 AM EDT

Rambus (NasdaqNM: RMBS) opened at $16.92. So far today, the stock has hit a low of $16.44 and a high of $17.18. RMBS is now trading at $17.03, up $1.22 (7.72%). The stock hit its 52-Week high of $19.65 in November and set its 52-Week low of $4.95 in June. RMBS is rising today after a court decision yesterday evening was announced. Today's movement could be seen as a short squeeze. Technical indicators for the stock are bullish and S&P does not currently have a STARS rating for RMBS. If you are looking for a hedged play on RMBS the stock seems like it could be a candidate for a September out-of-the-money bull-put credit spread below the 14 range. [ABR-Seven Summits Strategic Investments NewsBite]

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