Exodus Shares On The Move

What's happening with Exodus shares? There's plenty of speculation but no news, as volume and price are both sharply higher over the past two sessions. The surge in Exodus' stock followed the publication of two online interviews with CEO Ellen Hancock, who is vehement in her insistence that the web hosting company is on course and can become profitable before it runs out of money.

Hancock has said this before, of course. But on Friday, Exodus shares rose from $1.29 to close at $1.65 on volume of 54.4 million shares, more than twice the average daily volume of 21 million. Today (Monday) Exodus shares shot up further, reaching $1.96 before subsiding. By 11:30 a.m., more than 26 million shares had traded.

Some Exodus watchers speculate that this may mean news is in the works - either additional funding or even an acquisition. It could also be a "short squeeze." Exodus has become a favorite of short sellers, who hold more than 61 million shares (12.9 percent of the float). As Exodus rises, some of those short sellers may be buying shares to cover their positions - providing further upward momentum.

As far as the managed hosting industry is concerned, it's a relief to have people wondering why Exodus is gaining ground rather than losing it.