Tandem Diabetes Care Inc TNDM shares are trading higher by $0.25 (11 percent) at $2.85 in Monday's session. This marks the fifth consecutive day of gains for the issue that has rallied from its November 14 close ($1.80) to over $3 in today's session.
Some are attributing the rally to covering by short-sellers who are battling each other to close out their positions in the normally lightly traded issue.
After a higher open, the issue found sellers just ahead of Friday's high ($3.25), only reaching $3.10 before reversing course. So far, it has found intra-day support ahead of Friday's close ($2.60), as the current low stands at $2.70. At this time, the issue is struggling to get back into the $3 handle.
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