Today is not about news, or large investors buying or anything about the company at all. This is simply the speculators have turned up and given it a little florish of excitment, which in turn draws in more short term traders, daytraders and assorted punters. You can see it in the price action and also in the change in posters here. The caravan will move on just as easily once its had its fill, not clear whether just a couple of days of interest or a few weeks, so there is risk to both upside and downside in the short term.
I hate this stuff actually on small caps. I trade large cap stocks, but specs are best handled by building longer term positions. I'd be interested in knowing where it got promoted as that might give a clue as to how quick they will rip their followers and move onto the next one. In fact Im quite pissed at all this fluff today. I've been adding to my holding in this since late last year but got pushed up on my last little buy this morning, knowing I had sudden competition from people who know nothing about this business and whether they want to take the on the risks here. Yes you're entitled to trade it, but I'm entitled to be irritated with the flood of weak hands coming in.
With the gap up this morning its damaged a nicely building chart and caused a vacuum there so it may fall back, but unwelcome volatility now regardless.
YOJ Price at posting:
12.3¢ Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)