E-Commerce China Dangdang (DANG) Continues To Work Off 52-Wk Low

November 23, 2012 11:12 AM EST
E-Commerce China Dangdang (NYSE: DANG) is seeing a sharp upside move Friday. The stock is up 9% to $4.59 in mid-day action on volume that has already eclipsed the full-day norm.

Shares have seen a 25 percent move higher since reporting Q3 results on November 15th, which also marked the 52-week low.

Short covering can be attributed to the recent move. At the end of October, about 19% of the float was held short.

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