Digital River (DRIV) NewsBite - DRIV Downgraded By Argus

Posted: Wednesday, October 14, 2009 2:47 PM EDT

Digital River (DRIV) was downgraded today by analysts at Argus and the stock is now at $25.60, down $0.46 (-1.77%) on volume of 1,925,006 shares traded. The brokerage downgraded the stock to Hold from Buy. Over the last 52 weeks the stock has ranged from a low of $16.88 to a high of $41.20. Digital River stock has been showing support around $24.64 and resistance in the $27.08 range. Technical indicators for the stock are bearish and S&P does not currently have a STARS rating for DRIV. If you are looking for a hedged play on DRIV the stock seems like it could be a candidate for a November out-of-the-money bear-call credit spread above the 30 range. [ABR-Seven Summits Strategic Investments NewsBite]

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