RE: Over $500M market cap See there you go again revealing your amateur perception of how the markets work. Institutional investors rarely, if ever buy the news. No yesterday action was that of traders playing the spread in what has clearly become a slow and upward trajectory in the share price. For what it's worth there are many longs here who hate this slow advance, and long for the big gap up, they are also amateurs. You see it is this T.A supported, slow and constricting advance that so reassures me, and others, that try as some might the bottom is very unlikely to drop out.
Look I get it you believe, or maybe are forced to believe, that this just can't work, ORT cannot succeed. But if you look at the level 2 yesterday before the open you will see that at some point, when it does, that amateurs remaining on the short side of the trade will never hit the exits in time.
If you want a lesson on when to get out of a short position maybe have a look at BP, those who played it right became rich, those who hung in to long died a slow and merciless traders death. Some continue to wait for a law suit or something to return the stock to its days of woe and save them. Every time I fill my tank at a BP station I smile knowing that some poor smuck got stuck.