Whole Foods Market (WFMI) NewsBite - WFMI Falls on Profit-Taking
Posted: Wednesday, September 02, 2009 10:06 AM EDT
By: Market Intelligence Center Staff
Whole Foods Market (NasdaqNM: WFMI) opened at $28.00. So far today, the stock has hit a low of $27.31 and a high of $28.37. WFMI is now trading at $27.39, down $0.79 (-2.8%). Over the last 52 weeks the stock has ranged from a low of $7.04 to a high of $30.13. WFMI shares are falling with the broader market this morning as investors continue to take profits on fears that the market rally of the past six months has outpaced economic recovery. Since the beginning of March, WFMI's share price has risen by more than 130 percent. Technical indicators for the stock are bearish and S&P gives WFMI a negative 2 STARS (out of 5) sell ranking. If you are looking for a hedged play on WFMI the stock seems like it could be a candidate for an October out-of-the-money bear-call credit spread above the 32 range. [ABR-Seven Summits Strategic Investments NewsBite]
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