Volatility dropped quite a bit in December as the potential merger news cooled. Average daily volume was well over five million shares a day and has now dropped to 3.89 million shares a day. Just this morning we have seen interesting intra-day volatility. My guess is that, with each day without some pertinent information, some people will continue to throw in the towel and walk away....especially those investors who bought in the 18s a few weeks ago.
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