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The run up from $4 to $5 was short covering. I have no doubt that the next short interest report will show a decrease. Of course, if the price climbs towards $6 before anymore significant news, there might be more shorting.
The stock went up on institutional buying, not shorts covering. Shorts are still selling and very determined and wrong. News coming soon will act as rocket fuel.
I disagree. I think it went up on short covering, and the next short interest report will prove that.