"One word answer.
Shorting."
I have a large position in ESG and MEL and the 'shorting' has hurt my portfolio, but shorting only works if there are more sellers than buyers does it not ?
I know the word 'value'in sometimes just a euphemism but really, Shell's offer is 54% higher than AOE share price last week and the highest price AOE has ever been. I don't have any AOE, but if I did, I would probably take the money.
The Yahoo CEO a few years back rebuffed Microsoft's offer as he thought they were worth more than the 30% premium MS offered. MS walked away of course, the YAHOO shares tanked back and below where they were. I think the shareholders rebelled and the Yahoo CEO was sacked in the end.
Z
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