There was a discussion recently on another forum regarding stocks that have been in the $2 to $4 range for a year or two. People are claiming some of these stocks will shoot up to $15 to $20 for a day or two, then come back down to the original price. The percentage increase is much larger than a typical squeeze, over 200%. The volume is very large and the moves happen in minutes. Any swing and positional shorts are taken out easily. Has anyone here witnessed moves like these on daily or weekly charts without any possible news related cause?
Maybe moreso with "really cheap" penny-stocks. Divide those dollar figures above by 100 for better "scaling".
The forum that mentioned this is unrelated to trading. The discussion came up matter of factly when someone noted the illogical price action surrounding bad news for certain stocks. Cars get recalled and the carmaker's stock goes up, that sort of thing. Buy the rumor sell the news I guess. No specific stocks were named regarding the short squeezes themselves. I'm well aware of what can happen with low liquid stocks with a high proportion of shortsellers. I'm very skeptical regarding these claims on non penny stocks but I'll be pulling up some charts regardless when I get some free time. I asked here because I know many of you watch the market very closely and something like this would raise your attention. Thanks guys.