I would be careful if you are short here - it's not like they have been posting fluff PR... they have landed several large contracts, the number of lab tests has grown substantially prior to the new contracts... so you add the volume from new contracts plus this endorsement, and pretty soon you have a PR providing guideance way higher than anyone expects and/or, you get a buy rating and higher price target.
Shorts have been able to cap these rallies - but it goes both ways as you know... suddently the momentum changes and the shorts are having a long weekend because we broke $5
It wasn't going to happen this year because the vote wasn't happening until yesterday - and then of course it takes time to complete it after approval. They weren't counting on Mercury revenue in Q4. This does give them a huge leg up for next year and will add another $10 million cash in January. Q4 is going to be just fine - they are using some of the $18 million they just got to add engineering staff so they can meet the demand for new projects.
that's another $10 million in cash, and a lot more revenue - plus the $18 million cash they just got means we will see more aquisitions in the near future. They are either going to surpass SCTY... or be bought by them.
CMBX has been increasing the number of tests peformed quarter after quarter and is going to report profitability next quarter. They have signed major partners of the past two quarters, increased their sales team and entered several new markets. They have huge growth plans and you can bet the next press release regarding their forecast will be a good one that will start a long run up in share price. they have been a little quiet about the impact of all of these new contracts... look for an update soon.
Some of the big buys are short covering. Cash balance will grow witht he secondary scheduled to complete Wednesday (they will buy another solar provider with this money), then the Mercury buyout will be approved 12/4 adding another $10million in cash - (and revenue). these guys are setting up to be bought - and they just got a buy rating with a $5 target. I'm buying - solar has a lot of upside and so does RSOL
Something is cooking. We should break 10 on th opening trades, then we'll see what the momentum does. Very low float and market cap - not a lot of room to go short here so expect big volume to continue taking this higher as there is a lot to gain on the upside yet.
This will for sure break today's high of 6.50 and should easily get to mid to upper 7s. I would start protecting your profits over 8. Should be a quick new high out of the gate, then a pullback and then we should get some help from the shorts for another new high...depending on the volume.