Filed under: Major movement, Bad news, Industry, Wal-Mart (WMT), Options, Technical Analysis

GameStop (GME - option chain) stock is trading lower this day after retail giant Wal-Mart (WMT) announced price cuts on many top 2009 video games and a $50 Gift Card with a Nintendo Wii console purchase. If you think this stock won’t be rising too far in the coming months, then it could be a good time to look at a bearish hedged play on GME.

This morning, GME opened at $23.09. So far this day the stock has hit a high of $23.36 and a low of $21.36. As of 12:55, GME is trading at $21.56, down $2.28 (-9.6%). The chart for GME looks bullish and S&P gives GME a positive 5 STARS (out of 5) strong purchase ranking.

Continue reading GameStop (GME) drops on Wal-Mart (WMT) price cuts

GameStop (GME) drops on Wal-Mart (WMT) price cuts originally appeared on BloggingStocks on Wed, 02 Dec 2009 13:20:00 EST. Please see our terms for use of feeds.

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This entry was posted on Thursday, December 3rd, 2009 at 12:55 pm and is filed under Industry News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.