I'm dubbing it a potential isolated systemic short squeeze.
It's been notably popping up in stock issues with limited
float available for trading over the last 10 days.
And this is more than an isolated stock or two.
Look at Pitney Bowles ( PIB ) this afternoon.
Trading near $8 a share this afternoon, the stock took off for the heavens,
and was trading near $15 in after hours trading tonight.
Perhaps their is news on the stock ?
But an 88 % gain in a just a couple hours ?
Welcome to this new "out of site, out of mind" world of stock market trading in 2021.
One where valuations,visibility,or anything remotely as sublime as
simply no longer seem to matter.
In fact,they are all frowned on,.. viciously !
Woods of Connecticut.
"They say.."What else can I do with my money " ?
As long as the stocks keep going up, they're in an uptrend :)
Fear of missing out..the overwhelming feeling known as simply greed can overcome even the best.
Logic knows no leaps/ bounds right now.
Sheer market insanity.
I understand the feeling. Wait for clarity. Then act ! Best of luck to you.