Zale Corp. Pops (ZLC)
By Swing Trader
March 10, 2010 11:48 AM
March 10, 2010 11:48 AM
Symbols: ZLC
Posted in: Intraday Update, Movers
Zale Corporation (NYSE: ZLC) is surging more than 15% today on heavy trading volume.
The beleaguered jeweller is up $0.44, or 15.12%, to $3.35 in late-morning trading. More than 2.8 million shares have been traded versus the three month average daily trading volume of 1.95 million.
There is no specific news to account for the jump in shares today. However, with 41% of the shares sold short, any spike in price could lead to major short covering that would further bolster the share price.
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