What happened with Sears today? Yahoo finance and Google finance shows that it hit a high of 48.90, from around $37, on basically no volume - average daily volume is about 1.3 mil, and the stock currently has done less than 800k. Anyone know what happened? It appears the price of 48 plus hit between 1:30 to 2:00 PM, EST.
1) ?......there may have been a lot of buy-stops at $38/share from the early morning high that were activated when the stock rallied back up to that price and an absence of enough resting sell-orders to absorb the buying that produced the "spike". 2) It would suck to be "long and wrong" from wherever the high price of the day is determined to be.