Green Mountain Coffee Roasters Soaring on Heavy Volume

Shares of Green Mountain Coffee Roasters

are soaring on Monday after Lazard initiated coverage of the stock with a Buy rating. In mid-day trading on Monday, the stock was up nearly 12 percent to above $31.00. Green Mountain opened the session at $27.89. Volume has been extremely heavy with more than 15 million shares already trading hands compared to a 3-month daily average of just over 6.5 million. The stock is now hitting new multi-month highs after a substantial rally on Friday. Nevertheless, GMCR still has a very high short interest with more than 30 percent of the stock's float sold short as of Monday. Some of these short-sellers are likely covering their bets during the trading session, and this is adding to the momentum in the stock. Over the last five trading days, GMCR has climbed better than 28 percent. Year-to-date, however, shares are still down more than 30 percent. Green Mountain Coffee Roasters, Inc. (GMCR) is engaged in the specialty coffee and coffee maker businesses. The Company roasts Arabica bean coffees, including single-origin, Fair Trade Certified, certified organic, flavored, limited edition and blends offered in K-Cup portion packs, whole bean and ground coffee selections, as well as other specialty beverages, including tea, hot apple cider and hot cocoa also offered in K-Cup portion packs.