Barnes & Noble
Nearest Resistance: $26
Nearest Support: $20Catalyst: Major Nook Investment Book seller Barnes & Noble (BKS) is getting similar attention today, the result of a $300 million investment that Microsoft (MSFT) made in the new subsidiary that BKS created to control its Nook product and college bookstore businesses. The investment values BKS' subsidiary at $1.7 billion -- more than the bookstore's own market valuation right now. >>5 Bargain Bin Stocks You Need to Buy Now The massive gap up in shares of Barnes & Noble adds a lot of uncertainty to the way this stock is trading from a technical perspective. For traders looking to take advantage of the activity in this stock, I'd strongly recommend waiting for BKS to test a more substantial support level before becoming a buyer.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts