You have to keep in mind that Spansion is currently restructuring under Chapter 11 bk. They are also in search of possible buyers. With It's share price undervalued and what I believe to be a heavily shorted stock. This with a possible speculation of a future buyout is what's driving this up at the moment.
As far as long term goes...It's a risk! If they manage to work with their creditors & rebuild & emerge from Chapter 11, Then this might be a good long term investment. But for now theirs too many ifs for me to think long term.
Everything I say Is just my opinion. nobody should BUY,SELL or HOLD based on my opinions. I recommend doing self research before investing.