"This is pretty big...i figured we wud get a US Bank type bump..."
You are right. This is very big news. I think there are 3 reasons for not a bigger up move today.
1. Generally a market down day.
2. Those who follow Mitek already knew this news 8 days ago. There was a spike up at that time.
3. Whenever there is Mitek news that is not an absolute blockbuster, the large short interest (25%) goes to work to try to suppress the price. They used to be very successful at this. Lately not so much.
The good news is that with the huge short interest sitting on MITK, it's going to be like a volcano. All the positive info regarding the fantastic acceptance of Mobil Photo Deposit and the emerging acceptance of Mobile Photo Bill Pay is going to keep building up pressure until the shorts will not be able to keep a lid on this and the top is going to blow big time.