magicJack rallies strongly following Canaccord launch

|About: magicJack VocalTec Communic... (CALL)|By:, SA News Editor

magicJack (CALL +6.7%) managed to hit levels last seen in October after Canaccord started coverage with a Buy and $17 PT.

Shares jumped in November after the company posted Q3 results and cut all ties with controversial founder Daniel Borislow.

5.5M shares (a full 52% of the float) were shorted as of Dec. 13; that was the highest level recorded in all of 2013.