Shares of RHI Entertainment (RHIE) Continuing Sharply Higher Following Insider Buys from Klarman
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Shares of RHI Entertainment (Nasdaq: RHIE) are continuing sharply higher this morning following news on Wednesday night that Seth Klarman's Baupost Group purchased 437,000 shares, meaning the firm now controls nearly 37% of the media company.
The stock jumped more than 26% yesterday and, today, the stock is adding another 40.5% to recent gains. Shares of RHI have already trading 115,000 times, already matching its average daily volume.
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