Fusion-io soars again; Pac Crest sees huge buyout premium

|By:, SA News Editor

After taking a breather yesterday (in spite of a Piper upgrade), Fusion-io (FIO +15.4%) is flying higher once again thanks to M&A hopes. Pac Crest argues recent deals - Seagate/Virident and Cisco/Whiptail - imply a buyout price of $22-$27/share.

Shares +40% from Friday's close. With 31.6% of the float shorted as of Aug. 15, it's a safe bet short-covering has much to do with this week's rally.

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