There were much higher levels when it was less clear who potentially could be the merger candidate. Once speculation died down the pps sank over a period of a few weeks, but accumulation was still up. The latest rumor put LOCN back on the radar but there is absolutely nothing to worry about because eventually the 8k WILL come out and there will be a merger with SOMEONE, and the pps will reflect that news.
What I'm trying to say is, look how this thing moves with rumors and speculation. When something more concrete comes out, such as news or an 8k filing, this stock will fly, and today's PPS will be HISTORY!