I would say that the shorts were waiting for the 1 cent level to cover at. Question is, what is their next move. Perhaps they will let it get back to the 2 to 3 cent level and short again. Or maybe someone is accumulating cheap shares to get ready for some pumping news that will take the price to the 8 to 10 cent level. When that pump news comes is up in the air. Could be in December or perhaps next year some time. Buying in at close to a penny and selling for 8+ cents makes for some really good profits.
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