I'm wondering why this stock jumped up, and stayed pretty much up, after a rather dismal prior quarter, and I notice that it seems to have even bounced up in afterhours today. Can someone explain what this is all about?
The earnings miss was large in the previous quarter. As we neared the earnings date for this quarter, speculators played for another large miss, driving the price down. When the actual miss was relatively small (compared to expectations, anyway), some of those speculators exited their positions.