What's likely happening is that large shareholders who suddenly got a 4+x return on their investment overnight for no fundamental reason are blowing (BLOWING) out of stock and then indy investors see a "double-bottom" or whatever other stupid technical indicator they look at and buy the thing up.
The "bag" is being transferred from those who know to those who don't know.
Who will be holding this bag in the end? 1) Those who took profits on a fallaciously high stock price? 2) Those who looked at some technical mumbo-jumbo and talked tough on the message boards about how much they're going to buy as the stock-price tanks toward fair value?