Focus Media (FMCN, news, chart) is set to test its April lows of $30 a share Wednesday morning. Last week, on June 6th, FMCN puts were active, as the stock fell on fears that the May earthquake would hit revenues in Chengdu and Chongquing. Today, the stock is set to open lower after ChinaTechNews.com reported that the company is suffering additional losses because it has stopped all of its mobile phone SMS business. Stock is trading near $30.10, down from yesterday’s close of $30.54.
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Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.