Stock gaining strength as buyers snap up shares HOLD
The shorts have to cover and pay a premium. The next earnings report should start the stock rise to what it should be, in the mid teens. The stock is undervalued and will be the next M&T share valuewise. First Niagara Financial is in my estimate with billions on hand a takeover. Insiders continue buying.
Stock is range-bound last 60 trading days. Seems mega-supply is sitting at 8.50 (whale?) but plenty of demand in low 8s. At some point I expect supply at 8.50 to exhaust itself and a quick trip to 9+. Maybe this Q, maybe next.