It flirts above $1 during the trading day, but won't close at $1 or above. It's done that 4 days in a row, since the pop. This isn't a very good sign. Also, any explanation for the 700,000 shares traded on Thursday? It's so incredibly higher than any other day. Are they buying their own stock to get it above $1 so that they're in compliance?
There is nothing mysterious about this. The news indicated significant increase in revenue and this led to the spike and high volume. Now we see consolidation and formation of a new base awaiting the actual result which when confirmed will result in another spike and high volume.
I would agree with you on there being nothing mysterious about that spike in volume, but for a stock that almost never trades more than 20,000 shares daily, sometimes not even 10,000 shares in volume, a spike to 700,000 shares in one single day is just plain odd, especially since it's never, ever traded that many shares in its history, and the volume spike wasn't sustained in the days that followed, and has very quickly fallen all the way down to under 60,000 shares traded yesterday, and will see an even lower amount today. Either the company is buying back shares, or someone with a ton of money just made a big bet on this going higher. Either way, I don't think dismissing it as a non-occurrence is the way to go. Also, I'm concerned that it just won't close above $1. And its RSI is off the charts, suggesting that it's over-bought and pricey at these levels, and needs to settle down a bit. I own the stock, so I'm no basher, but I feel like it'll go lower before it goes any higher. Barring any news to push it higher, or a stock buyback, and still with all the uncertainty over China, I could see it settling down into the 70 to 80 cent range, until the next earnings report. But if you're long, then stay long. I'm thinking from a short-term trader's POV.