GameStop (GME) NewsBite - Goldman Removes GME From Conviction Buy List
Posted: Wednesday, November 11, 2009 10:41 AM EDT
By: Market Intelligence Center Staff
GameStop (NYSE: GME) opened at $25.13. So far today, the stock has hit a low of $24.34 and a high of $25.13. GME is now trading at $24.65, down $0.53 (-2.12%). Over the last 52 weeks the stock has ranged from a low of $16.91 to a high of $32.82. Goldman Sachs announced this morning that it has removed GME from its Conviction Buy list. Technical indicators for the stock are bullish and S&P gives GME a positive 5 STARS (out of 5) strong buy ranking. If you are looking for a hedged play on GME the stock seems like it could be a candidate for a December out-of-the-money bear-call credit spread above the 27 range. [ABR-Seven Summits Strategic Investments NewsBite]
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