What do you get when you combine Oprah, analyst upgrades and a volatile stock? An incredibly explosive momentum opportunity!
On Monday, Oprah announced that she was taking a large stake in the company and assuming an advisory position. When a celebrity of that level says anything positive about a company, buyers rush in, driving the stock through the roof. That's just what happened: it closed at $6.8 on Friday and opened at $11.99 on Monday. From there, a buying frenzy (further compounded by analyst upgrades) drove the price to a high of over $19 on Wednesday.
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