GREAT BASIN SCIENT (OTCMKTS:GBSN): What's Going On?

GREAT BASIN SCIENT (OTCMKTS:GBSN) is a strange stock.The company has lost 99.9% of its value over the last couple of years and, at the midpoint of October this year, went for just $0.05 a piece.It's been the subject of a huge number of reverse splits, toxic financings, and severe mismanagement.Over the last week or so, however, it's started to run. GBSN Daily ChartOn October 26, Great Basin Scientific hit $0.21 a share – up more than 300% on the just mentioned October lows. Right now, the company goes for a little over $0.12, down a little over 40% on last week's highs but still up substantially from the start of the run.So what's going on and – more importantly – what does all this say about what's next?Is Great Basin Scientific finally coming to life?Normally, when we look to answer these sorts of questions about a company that's been flat for a while, we look for any recent events that could be sparking some speculative inflow of volume and capital. SEC filings, corporate developments, press releases, that sort of thing. If there's nothing of this type on the wires, we see if there are any rumors spreading about potential value-inducing developments – buyouts, mergers, partnerships, all that sort of thing.So, what did we find?Well, in a word, nothing. The last time the company filed anything with the SEC, it was this 8K outlining the resignation of its Chief Financial Officer, dated October 3. A day earlier, on October 2, the company had announced it had lost its OTC listing and was set to start trading as a pink sheet the following day.Last time we covered this company, we suggested that it may benefit from a management reshuffle. As such, there's a degree of credence to the suggestion that the resignation might preclude a better person taking on the job and that – in turn – this could have shifted sentiment slightly to the positive side of the scale, but it's not a 300% revaluation input.Operationally, things are even more sparse. We've seen no press releases and the last time anyone of any note covered the stock was three months ago when SeeThruEquity put forward a $1 price target.Again, that's not what's pushing it up this week.Rumors wise, there's practically nothing out there that we can see that might be injecting some speculative attention into the stock. We suggested a few weeks ago that the company might be an attractive buyout target but we noted that this was purely an opinion based suggestion and that – as of then – there was no indication that things would play out that way.So there's no news, no fillings and not even a rumor or two that can shed any light on what's happening here – it's time to get speculative.All we can think is that this one is moving on a purely technical basis. The float's incredibly low, there's no doubt a bunch of shorts still holding on to their short positions on the back of expectations that the stock is going to fall to zero and the chart, on the narrower timeframes, looks pretty attractive from a short-term trader perspective. The run likely came on the back of a liquidized short and this flagged up the stock on screeners, which in turn is bringing in a few more speculative buyers who are picking up exposures in anticipation of a low float/short squeeze type run.So to answer the initial question, that's what we think is going on and, as far as what's next is concerned, there may be a bit more of this sort of activity heading into November.Check out our previous coverage of this one here. We will be updating our subscribers as soon as we know more. For the latest updates on GBSN, sign up below!Image courtesy of Ryan Milani via FlickrDisclosure: We have no position in GBSN and have not been compensated for this article.