Is This Algo?
I'm short this stock. When the company announced its plan to buy back its own shares, the price jumped up - which is natural. But what I don't quite understand is that, the price jumped immediately following the news announcement. How can manual traders react so fast? So I assume it's algo. But why? What is HFT trying to do here?
It'd be great if anyone could shed some light. Thanks!
I assume it can also be technical too, like stops getting triggered.
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