Crazy, right after I wrote this somebody sold it down below 4. I think somebody read my post and wanted to prove a point, lol. I'm sure they are feeling really good about themselves now, but wait until the momentum reverses and they get caught short.. This is going to be one hell of a bounce, shorts will add fuel to the fire.
Most employees and other holders that are able to sell as of the lockout expiration will continue to hold. This is predictable, the weak hands will sell and then the stock will snap back up. Most of this volume is shorts who think they can take advantage, they will cover soon adding to the upward explosion.
I don't think it's over yet. There are still about 3-4 million shares from the lockout, if not more. That IMO along with the shorts will drive the PPS lower in the near term. The selling will probably continue into strength as well. However, I agree that this stock has some potential after this selling is done, but with that said, I'm looking to buy more under $4 I expect a few more high volume days in the near term.