Friday was a big up day (+5%) and the closing auction attracted huge volumes by NHC standards, so something significant is in the air. The outstanding shorts on Monday were 2.3 million which could easily have been closed out completely during Friday's 5.4 million volume.
The fact that the SP went up suggests a lot of the volume was short covering, whereas if it was new shorting then one would have expected a dip.
Hopefully the buyer was a bull with deep pockets and the sales were new shorts who will be scrambling to buy the script in the next few days.
Hold onto your hat's Monday/Tuesday.
Friday was a big up day (+5%) and the closing auction attracted...
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