Disclosure: I am long HOLL. HOLL is an illiquid micro cap with a wide bid ask. This article is intended for idea generation only. Please do your own research and use limit orders.
Hollywood Media (HOLL) shares are up ~10-15% today. While such moves are not uncommon in micro-caps, moves on this heavy of volume (25x normal daily volume by 1 PM) with no press releases are pretty rare. Moves like this beg the question: what's going on?
The answer is that clever investors took a look at the 15th circuit website and saw that the Hollywood Media vs AMC lawsuit has been removed from the docket as "settled". And investors who were clever enough to check...
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