Bit of a mis-quote there. The BDIY was was around 1139 a few weeks ago and was floating around 800 for the whole last year prior to that, now it's at 1947. So it's only up 140% from a year ago and 71% from a few weeks ago. The fun part is that EGLE only owns Supramax ships. The Supramax portion of the index is only up 14.6% from a year ago, yet the stock is almost double. They still were rated sell to neutral across the board before this price spike and they're almost at 3 times the 1 year price estimate. This was just a plain and simple squeeze that only had 4 days to cover (and those 4 days are now pretty much complete). Would be amusing if we hear of a secondary soon which would make the squeeze an interesting coincidence.
Look at the price action last year at the same time. EGLE seasonally popped and then gave up 25% over the following 3 weeks (last week of Sept and first two of Oct).
Some of the posts here are cracking me up. The current price of VRTX isn't sustainable. We're heading into earnings soon and we will also soon hear more results from their current trials. At the same time insiders have been selling at record levels and still have been selling this week and last week. This last week has been a suckers rally on low volume and valuations for the last few months have been too high as well. You can all proceed to bash me now, but I'll still be the one laughing when this fills the multiple gaps below. A year from now, this bloated market cap of $17B will likely be a few billion. Then maybe someone would consider buying them, but not at current prices.