Via mymoneylife.blogspot.com/:
The short squeeze of the day has to be Under Armour (UA).
The stock started moving up on Tuesday, when it spiked above its 200-day average. But take a look at it today.
The stock is surging more than +12% intraday, on a huge spike in volume. What's the news, you ask? Pretty much nothing. There is no real news to account for the advance.
But a look at the most recent short interest figures sheds a little light. You see, the short interest in the stock was more than 43% as of June. That is a huge figure, and becomes very meaningful when you get a move like we are seeing today.
Take it from me. I've been on the other side of these short squeezes before. It is no fun. And when the pain is that bad, the reaction is often, "Get me out. Just make the pain go away."
$54.68 (07/06/07)
