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Why SunOpta Stock Continued Its Impressive Run Higher on Tuesday

TheMotleyFool

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Why SunOpta Stock Continued Its Impressive Run Higher on Tuesday

Shares of SunOpta (NASDAQ: STKL) rose again on Tuesday even though the natural and organic food company didn't report any news. The stock closed the day up 9%, but had traded up by as much as 18% in the session.

I suspect short-term forces are at work. Earlier this year, the stock was 10 times more shorted than it is right now, with less than 1% of shares sold short. As the shorts exited, SunOpta stock recovered. However, now that it has roughly quadrupled from its lows, it has attracted the attention of day traders who are content to ride the hot shares higher.