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Non-Tech : IOMG just dropped $3.50 in 15 minutes (5 million trades!)
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To: Marie Thorsson who wrote ()9/27/1996 11:30:00 AM
From: Mark Gomes   of 25
 
short covering

dunno if anyone else mentioned, but my sources state that shorts have been covering. the probable reason is that $13 is now seen as a strong support level, coupled with their new product annoncement, which set off a buying rally at the same time that the shorts decided that iomg probably won't dip below $13 again, barring a miracle. thus the quick 100% jump. but now, iomg is seen as a good candidate for a ride back down a few notches.
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