It’s clear this is not accumulation anymore it’s more of a deliberate beat down. This started even before the markets went into free fall. Reminds me a lot of PLS a year or so ago. Maybe our Chinese friends see similar value long term as PLS and want to get a hold of our deposit on the cheap. Unfortunately I think they underestimate the strength of the LT BGS holders. This combined with the fact the new board ensured a vote on any takeover will no doubt see this strategy fail eventually.
In the mean time it’s hard to watch though.
BGS Price at posting:
48.5¢ Sentiment: Buy Disclosure: Held
