Without any news, rumors, or promotions, Talon Therapeutics, Inc. (OTC:TLON) had an impressive session yesterday.
TLON stock closed 15.27% up at $0.974 on approximately 350 thousand shares. A vast portion of the volume was generated in the last hour and a half before the close. Interestingly enough, the trading activity and price surge don’t seem to be the result of news or developments.
There haven’t been new announcements by the company after the annual report we previously mentioned on hotstocked.com. As far as we can tell, there are no paid promotions running either. This leaves speculation as the most probable reason for the trading activity before the close. The anticipated NDA and FDA developments leave a lot of room for speculations to run wild.
According to the FINRA daily short sale volume file, about 50% of the volume was a result from short sales. We cannot be sure how this will work out for the traders who decided to go short on TLON, but that kind of activity can sometimes lead to increased interest in a stock.[BANNER]
Whatever the reason behind yesterday’s events was, the fact remains it was a good session for TLON, and it made some traders happy. With the stock closing on the exciting $1 mark, excitement is bound to rise, but how that will affect trade is not clear yet.
