Breaking Finance News

RUMOR ROUNDUP- Why is Radio Shack up 12 Percent?

buy hold sell street sign ratingsShares of Radio Shack (NYSE: RSH) are up more than 12 percent but no verifiable news is being attributed to the move. A Radio Shack spokesperson said that the company doesn’t comment on its stock fluctuations. What are social media traders saying?

Technical Analysis:

Looking at the chart, the thesis that this is a technical bounce with a healthy dose of short squeezing has credibility. The stock closed at $3.03 Friday–above it’s 50 day moving average at $2.95 and its 200 day at $2.96. It had a short interest of 42.3 percent making a huge short squeeze highly probable.

Notable Tweets:

 

 

Real Time Twitter Feed:

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Disclosure: At the time of this writing, the author had no position in the company mentioned.

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