Yes, short covering had a part in this - it's one of the most shorted stock. However, that usually last a day or 2. MSB seems to have moved beyond that. The last presentation was neutral, with no news (good or bad) expected for some months.
This strength of the upswing is unexpected.
Some shorters only short, true. But most short as risk management. The market is only showing one side of it at a given time.
I am long MSB, have been since $1.930. However, I will short intermittently if the trend warrants. Positions that are not protected are akin to gambling... even then, I'd buy insurance when the house has an Ace in black jack.
MSB Price at posting:
$5.48 Sentiment: Buy Disclosure: Held
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