NII Holdings (NIHD) Higher as Shorts Squeezed

Shares of NII Holdings (Nasdaq: NIHD) moved higher on Monday, gained 14 percent. On Friday, NII Holdings announced it would sell its Peruvian operations to Empresa Nacional de Telecomunicaciones S.A. for approximately $400 million. Since then shares marched higher, squeezing short positions. At the start of March, 32 percent of the free float in NII Holdings was held short. Today's gains came amid heavy volume.

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