Hard to tell. There are no terribly large lots changing hands, so it doesn't appear to be institutional buying.
There's no ANAD specific news, other than Tuesday's filing of an amended S-3 with vanilla attachments, but perhaps that's been enough to convince small investors that ANAD is not going out of business anytime soon and is an interesting speculative investment as these prices. If so, my bet is we return to the region of the pre-earnings low of 1.57 in fairly short order.
"If so, my bet is we return to the region of the pre-earnings low of 1.57 in fairly short order."
Maybe, but more likely that it settles in the 1.30s until there is more clarity that it will lower the the cash drain. Pretty safe bet at these prices still, but don't bet the entire pot (like some did at 5,4, and 3).
My small most recent bet at 1.05 a couple days ago looks ok, but I will be starting to sell if we get to 1.30. Average cost is now around 1.22.