I would not be surprised, but this stock jumped 25% in seven days, this is dangerous, a lot of it was due to one or a few traders who bought large blocks, most likely to short.. I've seen this before, don't be surprised if it falls back to the $5.50 range very soon
Hey, Im new to investing .... will you explain the phrase "bought large blocks, most likely to short?"
When you short sell a security, you generally do not short against a box position first. Shorting against the box is a hedging strategy to preserve gains. If you just bought the blocks and therefore just established your box, why would you hedge it if you didnt have any gains? If you expected the equity to decline you would first just locate the shares to borrow and short sell the security ... Im really new, so please help me!