RE:MTG & CDNBacon wantedI wish I knew. ;)
Definitely not news related, nor likely even speculation on news.
It's more a combo plate of a lot of things :
An 83K share buy at the open, it triggered some scanners on a low volume day, then traders who don’t have much to do this week piled in, some shorts got out, more scanners tripped, day traders flooded in as it reached the news that it was the largest gainer across US markets. Nothing particularly fundamental about this. 67% of the volume is in the dark pools today, vs 50% on the regular. So a lot of big trades for big trading houses, with the trade type known as sweep trades (
an aggressive trade approach that aims for immediate execution of as much as possible) accounting for
18% of the stock volume today, totaling 9.8 million shares. Likely those were large short covers. The short data later this week will be very interesting.
Pitpitcolisse wrote: Mtg, what is going on? Bacon, where are you, the short bbq is starting and its not a real bbq without bacon. Cheers