I don't think you would be able to get 150 people to agree to anything at any given time. What is needed is some outside influence to push the stock up. Assay, mill, production numbers, or a buyout, etc.
But you are looking at the extreme end of the scale. 15000 investors don't all have to agree. We know in any given block of shareholders, some are long, some are flippers. If we were relying only on the sale or purchase of stocks, then your point would be 100% valid. But the o/s and A/S after the merger will be almost maxed out, so there won't be much of the float to buy or sell. Thus an outside influence (change in the situation for the new entity) will be required to make the stock more valuable.
Actually any short sellers will be stuck if most of the float is tied up.
JMHO
Don't take my word for it, Do your own research! Then you will know it's true!
