ZQK reported declining revenue, which declined more than expected.
ZQK reported a loss of 4 cents, rather than the expected small profit of 4 cents.
ZQK stock was up 13% this morning, rather than going down as expected.
Why is ZQK up today? Please advise.
Some bozo analyst upgraded it because they are divesting some non-core assets and he thinks they'll lose less $ in the future. Day traders jumped on the upgrade and have pushed the stock up. I'd wait til the EOD to see if it gets any higher and then short it then, hopefully at the $8.68 mark (or higher, which would be absurd). Day traders will have moved on on Monday and everyone else will realize what poor numbers they just posted. Should be back to $7.50 by next week. Good luck.