3 Hot Stocks to Trade (or Not)
PSS World Medical
Nearest Resistance: $29
Nearest Support: $28.50Catalyst: Acquisition News >>5 Takeover Targets to Buy Before Wall Street Finds Out Topping off the list today is PSS World Medical (PSSI), a small-cap medical product distributor that announced that it would be acquired by McKesson Corp. (MCK) for $29 per share. The news boosted PSSI's share price by close to 33% at the open this morning, giving investors who owned shares some substantial gains. Acquisition news and big percentage moves have a way of drawing investors' attention, but it's important to fight the urge to jump into this name . Ater all, there's just a 1.2% risk premium priced into PSSI after the news, and a very hard price ceiling at $29. I'd recommend staying away from shares.
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