Early in the session, shares of the nano-cap had surged 20% to $1.32.
Trading volume was heavier than normal. A total 3.2 million shares had changed hands by 10 a.m. EST, nearly triple its three-month daily average of 1.1 million.
Last month, the retailer announced preliminary results for its fourth quarter. Total revenue decreased 34.2% to $35.4 million, with a 33% year-over-year decrease in its retail segment and 36% drop in its direct segment. Comparable-store sales plummeted 26.9%. DLIA data by YChartsMust Read: Warren Buffett's 10 Favorite Dividend Stocks STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.