OVERLAND PARK, Kan. (

TheStreet

) --

YRC Worldwide

(YRCW) - Get Report

shares jumped Tuesday on heavy volume in the absence of any company-specific headlines.

YRC Worldwide was lately up 43 cents, or 9.9%, to $4.76. Volume topped 8 million shares at noon EDT, according to the

Nasdaq's

Web site, and looks to top the 50-day average daily volume of 9.4 million.

The rise in shares comes after a tumultuous week for the embattled trucking company. On Friday,

Reuters

reported that sources said YRC would make "substantial" cuts to its workforce as the third quarter closed. Shares touched a high of $6.18 earlier in the week before finishing at $4.33 Friday.

On Monday, YRC disclosed in a regulatory filing that it made an amendment to an asset-backed securities, or ABS, facility to "reduce the impact of certain negative effects that the integration of Yellow Transportation and Roadway has had" on calculations under the facility due to "rating adjustments and the timing of customer payments." YRC shares fell 6.7% Monday to close at $4.33.

Earlier this month, YRC Worldwide amended a $950 million credit agreement with lenders as part of its efforts to stave off bankruptcy.

Short interest is very high on YRC Worldwide, as it appears traders are banking on the company's collapse. YRC sported a short interest float of 30% as of Sept. 10, according to Yahoo! Finance. YRC has a 58 million-share float.

Investor posts on Internet message boards for YRC Worldwide speculated that the surge in shares was due to an insider purchase. Some argued Tuesday's rally could be short covering, while others said that the recent workforce cuts do not provide evidence of a strong turnaround for the company and that YRC remains unprofitable and is running out of cash.

-- Written by Robert Holmes in New York

.