Prediction: Price will drop once short covering done
PCBC stock followed the same pattern after capital infusion was announced ... sharp rise and pullback to same level it was before. Plus, HMPR looks like they are still looking for more institutional investors, so further dilution may be coming.
Short squeeze! those who shorted 13% of the stock were hoping to participate in the equity offering. they now know they got screwed over. now they have to cover on the street! what part of this don't you understand?
Every one of these bank stocks follows the same pattern ... moon shoot on any positive news ... then price drops back once reality sets in. In this case, 87% of the bank is being sold for pennies... that's good news?