Just yesterday LEAP traded to its short term profit level and followed an Elliott Wave structure nicely.
Today, LEAP was on a tear up over 10% at times and closing just shy of this level. LEAP easily reached the 13.30 long term price target.
Last night a large block of shares traded after hours after what seemed to be some resistance in the stock. It was uncertain what this large lot was signifying, with resistance above it could have meant a correction after reaching the initial price target.
However, it seems that someone was in the know, as todays news that LEAP management has mismanaged shareholders best intentions was received quite bullishly.
The LEAP board is being challenged by shareholder Pentwater Capital, in a letter that describes LEAP stock as undervalued to its pears. (article)
