It may be worth a lot at some time in the unspecified future, to someone with legitimately-obtained licenses.
The only signs are that some shorts are cashing in a little. Company has yet to prove FCC licenses were legitimately obtained. If they don't do that, it's a penny stock.
Icahn taking a position won't change the alleged illegalities VRX has been accused of. Company has little chance of survival, IMO.
This is pretty clearly a short squeeze, not a stay-at-home-moms-buying-stock thing. Question is, how long until new, stronger shorts pile in?
Look at the Date of Event Which Requires the Filing of this Statement in the filings. Samburg bought on October 20, Hecht on October 29. They are both extremely underwater now.
Considering the highest clock speed is around .3 nanosecond, and the speed of light limits electrical signals to travel just one foot per nanosecond, how can you trade in 1/2000 of a nanosecond?
More people are killed in Iraq on any given weekend and the US market doesn't go down. As the OP said, this incident, though tragic, won't affect US companies.