Are you insinuating that no momo players accumulated yesterday and today? No doubt in my mind there is some one or group behind this movement....not longs but flippers. Sure some longs will buy more shares but not enough to keep the share price from tanking when its done.
Best case scenario, something great happened to MDGC which we will find out soon....but I wouldn't bet on that one. All IMO.
A methodical accumulation of the float needs no 'momo' players! But it does need longs!
What does this mean? The float is the number of free-trading common shares in the hands of the public. It doesn't include shares owned by insiders or shareholders who own greater than 5% of the shares outstanding. Longs may be buying MDGC stock, but the shares they buy are still part of the float unless they become a greater than 5% shareholder.