China MediaExpress Surging On Global Hunter Report (CCME)

Shares of China MediaExpress

which has been accused of fraud by two short-selling research firms, is surging on Thursday after a bullish research report was released by Global Hunter securities reiterating their Buy rating and $26.00 price target on the stock. The report can be viewed

In the wake of this report, CCME shares, which have been shorted heavily, have jumped nearly 19% to $15.03. Volume has been heavy with around 6 million shares already changing hands compared to a daily average of around 3.8 million.