Fusion-io jumps (again) due to M&A speculation
Fusion-io (FIO +4.7%), which skyrocketed last month after the Western Digital/Virident deal stoked acquisition hopes, is jumping again due to M&A rumors.
This is a good time to remember 23.4% of Fusion-io's float was shorted as of Sep. 13.
Did you keep a tab on LEAP wireless after T made the bid. The stock 2x overnight. Not saying that will happen here, but a bid will push the stock a minimum of 30% from here. That's assuming ~$18/share. The low float and high short interest will be factors as well. I'm not going to get overly hopeful, but the mgt team needs to execute on the new, revised growth plan. Their credibility is on the line. If they make the numbers this stock will move.