Shares of Coinstar (NASDAQ:CSTR) are up over 22% this morning after the company reported blowout earnings last night and raised guidance. If you're a shareholder of the stock, your weekend is no doubt starting out on a good note, and judging by the trading in the stock yesterday there are probably a lot of new shareholders in the stock.
As shown in the chart below, shares of CSTR started out yesterday on the weak side, but then staged a sharp rebound in the last two hours of the day. By the end of the day, the stock finished unchanged on the day. The rebound was so strong that more than half of the volume in CSTR yesterday took place in the last two hours of trading. Could news of the strong earnings have leaked out a bit early? (Click to enlarge)