For a few brief moments this week shares of Big 5 Sporting Goods (NASDAQ: BGFV) looked they were shifting into a higher, bullish gear. Specifically, in response to Tuesday's post-close release of the company's fiscal third quarter results, shares jumped more than 14% on Wednesday and were up more than another 34% at one point on Thursday.
The rally wouldn't last, however. By the time Thursday's closing bell rang the stock had fallen back to a mere breakeven for the day, dashing hopes that this closely watched ticker might finally start to rally in the way so many people seem to be hoping it will.
Those shareholders need not give up that hope though. Big 5 is a serious short squeeze candidate. One of these surges could eventually jump-start a rally that sends the stock soaring in a more sustained way.
For further details see:
Is Big 5 Sporting Goods A Short Squeeze Stock?