I guess it's all about the timing of an announcement. If the bidder(s) knew something last week and were testing the waters, then they know that they can't get in below 4 with any significant volume. Might be able to squeak out a few more 3's, but not many. If no announcement comes soon then the folks holding at 3 that came in last week start to dump and then consolidation again in the 1-2 range... round and round we go.
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