The news on this stock is not relevant to a professional trader or hedge fund manager. All they cared about was the rise from .40 to near $2. and their reaction to it is actually VERY predictable. Here's what they do:
1. Pump it up to all the newbiew 2. Buy to Cover (or worse naked short) over $2. 3. Watch the newbies eat up the hype 4. Sell to cover as reality sets in 5. Dissapear (where do you think all those 'it'll be $10 by Friday posters went?)
It's actually quite predictable but people let their emotions get in the way of disciplined trading.
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