58,029 shares of C traded on Friday. That means that 58,029 shares were bought because of the near certainty of a significant rise to 25 or higher. Perfectly reasonable.
The problem is - who sold those shares? Why would anyone sell something certain to rise?
Yes, I agree that it makes total sense that the preferred issues will pop back up to par, perhaps even be called back. But apparently, somebody out there in market-land does not agree.
For as sure a thing as it sounds that the preferreds will pop back up to par, they haven't moved much.
Normally, a stock going up is a good thing. The problem here is that we don't know why it's rising. We can pretend that we know if we want to. But the fact is that we don't. That's a problem.
They are unable to deliver, and don't seem to have an estimate of when they can. If so, they should state this fact on their web page.
As to how many pre-orders they have, no one outside the company knows that.
The preferreds are all up as well. Investors usually invest in preferreds for the income, but these have been down and up severely the last few days.