Insys Therapeutics (NASDAQ:INSY) is seeing a rash of attorneys filing to get in place for any potential class action suit. Shorts have increased their relative position almost 10x since December. Fidelity is now charging 6.5% carrying charge on short positions. Director John Kapor buys 40,000 shares for about $1 million over 2 days.
No surprise the stock is surging, up 14% today. Will it hold or continue to rally? No idea here but holding until I have more information.
Disclosure: The author is long INSY.