Holding well under low volume awaiting next week's news on the buyout bids. A buyer emerging tomorrow but Monitor will probably mention it next week in the third report. Monday is a holiday in Canada.
Yet if you check when the most recent rally happened you will notice something interesting that may play out here tomorrow. The rally was fueled by Bioamber's motion in court to approve the DIP agreement and extend the proceedings a few more days in order for them to find a buyer instead of liquidating. They submitted the motion in court June 8th assuming during working hours in Quebec. Yet the stock exploded at the bell probably due to investors with insider's knowledge. In fact, check 3pm the day before June 7th. Look at the volume. The day they probably crafted the motion.
It wouldn't surprise me if this gets strong volume again tomorrow or next week ahead of the news due to investors that got a hold of insider information that they received an offer or from people from one of the potential companies buying they they sent an offer. Even conversations from the potential companies talking about reserving funds or seeking a loan are signs if you really want to know before the official news. Another sign would be a champagne party on Saturday at the Sarnia plant.
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