Rackspace Technology Extends Multi-Day Rally as Short Covering Accelerates
RXT•Rackspace Technology extended its multi-day rally as accelerated short covering drove a surge in trading volume. The buy-to-cover activity intensified recent gains and highlighted growing bullish momentum in the stock.
1. Short Covering Fuels Extended Rally
Shares of Rackspace Technology have extended their rally for several sessions as short sellers closed bearish positions, pushing trading volume above its recent averages. The accelerated buy-to-cover activity has amplified gains and signaled a shift toward stronger bullish sentiment in the stock.
