I've seen this before. When a stock suddenly moves on much higher volume, people who have their trading platforms set for unusual volume alerts see what's happening. Without having any idea what the company does, the daytraders jump on board, doing a lot of trades for (usually) small gains per trade. Doing multiple trades for even $100/trade can add up. On a grossly undervalued stock like this one, someone can buy 10k shares cheaply, and sell for a cent profit multiple times through the day. Small traders love moves like this.

This is what people mean by momentum traders, AKA "mo-mo traders."

It will be interesting to see what happens when people really understand the magnitude of today's news. That's when actual investors will pile in.