Phynaz
Lifer
- Mar 13, 2006
- 10,140
- 819
- 126
Someone is offering a lot at this level which is soaked up by many buyers. Whatever this is. Maybe covering shorts.
Uncovered shorts aren't a thing anymore, haven't been for years.
Also, closing out short positions raises a stock price, it doesn't lower it. Thirdly, trade volume is half of normal. Closing short positions increases trade volume, it doesn't lower it.
This is simply lack of interest.
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