ACS found support at 30.5 cents and settled with a seller at...

ACS found support at 30.5 cents and settled with a seller at 32.5 cents at close. The rest of the market was sold off more agressively as the day went on. Also, the volume was low with only $145,000 shares traded out of a capitalisation of $54 million = .26% of the company. That's proabably a handful of nervous sellers.

No doubt its going to test the nerves with this big sell-off in the market. However, there have been an abundance of takeovers recently despite these unsettled markets so it doesn't necessariliy drive away stategic corporate takeovers eg STO takeover of ESG recently. If anything it encourages them as the takeover companies will see any fall in the market as a strike opportunity.

At the end of the day the daily price won't matter if the takeover goes through. So its 20cents or 55 cents and no in between. For this reason I think all holders will breath a sigh of relief after a positive announcement. I know I will. Come on directors of ACS, get it done and back the offer and give us our pay day we been sweating so much!