Oversold Stock

NYSE Oversold Stock KKD, BAC, S, NOK, FTR

While a deal has been reached to stop the U.S. debt dilemma, the market obviously remains uncertain. However, the market’s recent slide has caused some oversold stocks that are worthy of mentioning. Here are a few names and symbols of NYSE companies under $10 that have declined:

Krispy Kreme (KKD:NYSE) Shares of KKD rallied recently because of a strong earnings report and positive sympathy relating to the Dunkin Brands (DNKN:IPO). Shares hit $10 recently, but have pulled back almost 20% since the 52 week high was made. KKD has held this level before, which could interest long scalpers who use tight stops.

Bank of America (BAC:NYSE) With all of this uncertainty, it comes as no surprise that banks would be sold off by institutions. And BAC has become one of the favorites of these sellers. Shares were over $12.50 less than 3 months ago and are nearing 52 week lows. If the market rallies BAC could become a bottom fishing play, but the name is best suited for longer term players.

Spint (S:NYSE) Shares look like garbage and on a percentage basis, still have a little ways to go reaching their 52 week low. However, despite growing losses, the company and it’s stock price could benefit from inking a deal with Apple Computer (APPL:NASDAQ). These rumors obviously have not materialized, but S bears watching just in case.

Nokia (NOK:NYSE) It seems like everyone hates Nokia. The company was once a one decision stock, and was a darling of Wall St. for years. Now NOK is heavily shorted and there isn’t much hope for any type of a massive rebound. Apple Computer (AAPL:NASDAQ) just knocked NOK out of the top spot for mobile handset units and there seems to be no light at the end of the tunnel, but a bounce in the broader markets could cause some profitable shorts to cash in some chips.

Frontier Communications (FTR:NYSE) FTR is another heavily shorted name that has fallen of it’s 52 week highs. FTR is currently paying roughly a 10 % dividend, which some short sellers believe will be cut. FTR reports earnings on Wednesday so keep in mind that the bottom might not be in yet.

More Penny Stock News, IPO Updates and Stock Market Research.

***Sign up above for FREE Stock Alerts from our eMail list***

Related posts:

1. Thursday Stock Alerts BCCI, GMCR GMCR, KKD, HFBG, BCCI, EMR Green Mountain Coffee (GMCR:NASDAQ) GMCR...

Related posts brought to you by Yet Another Related Posts Plugin.