EMKR roars back!
After being down more than 50% in the last 52 weeks, the thing had been on a slow steady climb over the last several weeks from the $5’s to just over $6.50. Then today and I still don’t know for sure why, the thing just roared out of the gate and never looked back. The thing went up over $1.00 during the day, and a few cents more in the after hours to close at $7.69 on over 4x normal daily volume.
One could attribute this to a short squeeze, but I’m not so sure. EMKR has been in short squeezes before and it never took off like this. Folks on message boards, those bastions of truth, think a takeover is eminent; and why should I doubt them? Just ask the fine folks at Whole Foods!
What’s especially strange is that neither Mad Money, On The Money or Fast Money made a peep about it. I guess EMKR is too small a company and isn’t in the national consciousness enough to warrant attention. But yesterdays pop certainly got my attention.
After sticking with this stock going into the toilet for over a year, I am now officially in the black, though not by much, with an average share price of $7.50.
Nevertheless, I’ve got my sell orders in for the near term if this thing keeps going up. I’m going to make a little money (hopefully), and get the heck out.