It is kind of strange since no new information has come out at all lately and all of a sudden this upgrade? Maybe they are in on the short and needed a bounce to short more. This is a typical good news day...stock jumps up only to be sold off back to starting point. Nothing new today. It will happen again in six months when the next positive announcement comes out. These bounces never hold because the good news is so far and few in between. Shorts are still in control and have not covered yet. Only retail shorts covered today.
The MM's and Hedgies must be spending an incredible amount of money to sit on this. Highs of $4.22 today and back down to $3.94? Besides the obvious spread play, is management allowing this until there stock options kick in? Who is paying who?
Early covering and short resolve - the shorting today in the mid 3.90's will prove a mistake - but really, considering 40M shares shorted, and we are at 4.09 after the upgrade, there was likely a 12M savings and not having to cover at 4.4+.. Great psychic abilities and strategy on that psychic thought.