Shares in offshore driller Seadrill soared more than 50 percent on Monday, marking the stock's eighth straight day of gains on the back of what one analyst called the "mother of all short squeezes."
The Oslo-listed company has seen demand to "short" its stock drop significantly over recent weeks, according to financial information services firm Markit, as spiking stock prices pressured investors to drop bets that shares would tank.
About 9.2 percent of Seadrill shares, which are also listed in the U.S., are currently on loan but demand to borrow those shares dropped to 37.5 percent on Friday, Markit's data showed. That's against the most recent peak on February 8 when demand hit 78 percent.
Meanwhile, the company's share price has climbed over 140 percent in the last 30 days and 190 percent over the past seven trading days alone.