Wave Systems Corp. (fka WAVXQ)

[New Wave]

lugan, I don't believe a short would cover a large position in a few big blocks with so little concern over the share price. If they were committed to cover then I suspect they'd approach it gradually, except for the unlikely possibility that they were aware of something that would imminently move the price. Perhaps someone or some entity wanted a long position and didn't want to wait. Maybe something learned at InfoSec Europe?

The price has naturally been pushed back by day traders as well as more shorts stepping in - or digging themselves in deeper.