Thursday, December 29, 2011

Stock Alert -Diamond Foods (DMND) Spikes on Einhorn Rumor -12/29/11

Diamond Foods (DMND +9.5%) spikes as SunTrust's Bill Chappell tells CNBC that short sellers - who hold 45% of the company's float - could be spooked if accounting issues get resolved by mid-February and DMND comes out relatively clean. Shares had jumped earlier this week on a rumor that David Einhorn had acquired a stake, which Chappell says would be a "catalyst."

Diamond Foods (DMND) has resistance level is $33.36 and support level is $26.


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