One under-$10 stock in the grocery store complex that's trading very close to triggering a near-term breakout trade is Supervalu (SVU - Get Report), which, together with its subsidiaries, operates retail and wholesale food stores in the U.S. This stock has been crushed by the sellers so far in 2012, with shares down by a whopping 70%.
Shares of SVU are spiking notably higher today by 7% to $2.20 after the company said its review of strategic alternatives is proceeding and that it is in talks with several parties.
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