What: Shares of The Container Store (NYSE:TCS) have jumped today, closing out with gains of 11% after recovering somewhat from the recent earnings-related sell-off.

So what: Last week, shares plunged by over 40% after the storage specialist reported disappointing third-quarter earnings. Revenue growth came in at just 3.3%, and The Container Store reported a surprise loss of $1.7 million, or $0.04 per share. Comparable-store sales inched higher by a measly 0.5%, and investors are clearly beginning to lose confidence in the company's turnaround.

Now what: It's not unusual for stocks that are beaten down to experience a bit of a bounce after the selling pressure subsides. Container Store shares have been quite active in terms of volume since the release, so traders are likely jumping in and contributing to the volatility. On top of that, The Container Store is particularly popular among short-sellers, with 19% short interest as of Dec. 15, 2015, so there's also a distinct possibility that today's bounce was driven by shorts buying shares to cover their positions and realizing their gains. Fundamentally, The Container Store still has its work cut out with this turnaround.