I guess this rally started on the Jan 2nd based on the end of tax year but now it is related to the news about new NOL regulation (5 instead of 2 years) ... this can be very significant for companies in BK....
WMI market value - even at 0.08 - is still very low $136M compared to the possible upside comming from 5 years of tax benefits that are worth Billions..
... you add the 4.4 B cash now + undetermined (botom almost 4B as per last A/L report) + possible $B results from sueing FDIC ... compared to 8B in debt (less than 1B in 2009) to be paid up to year ...2049...
.. with bumps on the road but I think this will keep climbing over the next days/weeks...
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