High Takeover Probability

Little SAU is now significantly valued lower (MC) than it's incoming cash.

MLX (WGX) is acutely aware of this, because, the cash is it's liability.

They could convert the cash into an asset by exchanging WGX shares for SAU shares.

The further price is smashed for SAU and the more that ordinary shareholders sell - the better bargaining position for WGX.

Time is actually on SAU's side, because WGX wouldn't enjoy seeing cash burn happen (they are attached to this cash like it is theirs and probably have their own plans for spending it).

I have a feeling that not as much real selling has occurred than the selling action appears to be. Insto's employed to plan an M&A could easily drive price down with their trading bots. I think they're slightly desperate because plan A is not working too well. Plan B might be to offer a better deal for SAU shareholders.