IMO if there is an acquisition it will come via a filing after hours and you will see price adjust at next open. If they announce it during trading day price will fluctuate wildly because float is so low as market assessesnew valuation in real time. Imagine placing orders with the spread and movement we see now with this volume x 100. Only way to get it would most likely placing market orders or very high limit orders. I wouldn't want to be in that situation.
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