intraday spikes are not considered when one speaks of a stock doubling in value. Realistic investors want to see a stock increase in value and maintain that new level......not 30 seconds.......IMHO
But if one thinks thats a double and thats what one is looking for......
I consider it though. I'm a small time investor/trader. It's not like I'm ever buying or selling anything of serious dollar volume, so I can usually get my limit orders filled even when the stock isn't trading very liquid.