Price drop precipitously, then price rockets. An earnings leak? I think so. I am tech trader and have profited nicely on a short trade today. But it seems like the odds are stacked against most here (long, short, technical, or fundamental players). Just saying. GLTY
There was a rumor that they lost the iPhone 5 which plunged the stock, but very strong earnings and guidance suggested otherwise and that things are great. But then after an over 33% gain over two days some investors decided to take profits.
A short today was a good play since profits were fairly predictable. I didn't think we'd see serious profit taking until after Wednesday, but volume did pick up at the end of the day.
Careful on the short side from here. Very low price for a company that is seeing good growth and an Apple event Wednesday will likely shoot the price up.