RadioShack (RSH) Sees Late Squeeze Higher on Volume

February 8, 2013 4:26 PM EST
RadioShack Corp. (NYSE: RSH) saw a massive jump in the last minute of trading Friday, jumping about 3.7 percent on 1.7 times the average daily volume. Shares close nearly 10 percent higher with 4.95 million shares having clicked through.

Recent market stats have short interest on the electronics retailer moving 1.9 percent higher to 33.99 million shares, of 34.7 percent of float, from the end of 2012 through the middle of January. The mid-$3 range has become key, with RadioShack dropping below that point following quarterly results last July.

On Thursday night, the company appointed a new CEO in Joseph Magnacca. Click here for more color.

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