By late morning, MNI had risen to over 90 cents a share, triggering a miniature sell-off. Was that sell-off caused by investors who believe 90 cents a share is MNI's ceiling??
From comments, we can't know for sure if investors think 90 cents is MNI's ceiling, because the volume was so low:
Impossible to say. The volume is still only 111,000 at 2:40 PM. It easily could have been a single person unloading a small short position (20k or so) that sent it up, or it could have been a novice day trader that speculated early on trying to pick up a couple thousand.
When volume is this low, small amounts make for large moves. Had this been a couple of months ago when I covered, it would have accounted for the entire daily volume over the past two days.