Courtesy of Benzinga.
Shares of Walter Energy, Inc. (NYSE: WLT) appeared to be squeezed higher Thursday as the stock surged over 18 percent.
The stock had fallen over 45 percent in the past week with short interest at more than 55 percent.
Traders began to buy the dip Thursday as the stock saw support at the $1.70 level, but resisted breaking through the $1.80 level in early trading.
By 11:04 a.m. EST the stock broke through the $1.80 level and continued higher until finding new support at the $2.00 level after 12:36 p.m. EST.
The stock closed at $2.03, up 18.7 percent.
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