I am guessing he is a short and is trying to get some pops so he can short more. Its not rocket science. The bond rating on wlt says there is an 86% chance they are going into bankruptcy (ie not pay back the debt). Hence the rediculous interest rate they are paying (almost 9%).
One of the main tactics the big institutional shorts use is those ratings from Moody's and S&P. They have already done the homework for you. Just playing the odds. You need some deep pockets though as you can see when this stock moves against your position.....temporarily.