the endgame - closing the bid, page-3

Good post botfodder.

Can't say much about possible motives in terms of shorting for a failed takeover. May be the case.

The rise from the September low looked very suspicious, especially after it continued passed $1.20. Certain parties were obviously in the know about the takeover a couple of weeks beforehand.

If you have a look through old posts in the weeks before the takeover you'll find that Citi had a sell recommendation and a target price well below consensus. And then upon the takeover offer they appeared as advisors on the takeover to Cathay Fortune.

I like the narrow range on high volume last week too. Thought about topping up more but decided to wait a lbit more.