No significant news. This pop is probably related to Dec option expiration this Friday. It appears those who "manage" the price are working for a pin in the $37.50 area on Friday.
This stock really is someone's toy yo-yo and they can perform some very slick tricks with it.
After we're past Dec option expiration there may be some Santa Claus rally and/or year-end silliness. But once we get into January and start approaching the early Feb reporting date we'll see where OPEN is really headed - and I think it's down.
The YoY comparisons mgmt used in 2011 aren't going to look nearly as good. The TopTable acquisition closed at the beginning of the 4th quarter last year and that made YoY comps look good for the first 3 quarters of this year. If you look at sequential quarter comparisions in 2011 there was very little revenue growth. A company trading at 6 or 7 times sales has to show rapid revenue growth or that ratio will fall - probably substantially.
Mgmt needs to pull a rabbit out their hat or OPEN will probably be trading in the mid 20's or lower after Q1 results are released.
Is the big jump caused by the company's $50 Million buy back? If the company buys back shares while insiders keep selling, doesn't it mean it is merely a legal/illegal transfer of company's cash to the management's own pocket?