my 0.02When a day like this, a huge volume spike triggered by news, whether it was a seemingly bad news(like the one 2 weeks ago), or seemingly good like this one, instead of jumping on the bandwagon, I’d always like to take a step back.
Who is buying at or near 14 cents all day? From the way the deal is structured, it is very unlikely one can make more than 14 cents per share from this deal, and that gain won’t be realized until 3 months from now, voted yes, in November, when the deal is voted yes. Why someone is accumulating all these shares for what, maximum 3% gain (if they buy at 13.5 c) for 3 months of period, with the risk of the deal being voted down. I do not buy the short covering theory, this is a stock that barely moves most of the days.
This is may be a far-fetched speculation, but
This is the only firm offer on the table for TST at the moment, a low ball offer, but it is an offer that at least offers better than cash value. By announcement of the offer, it took some heat off the current board by offering some sort of assurance to the shareholders, and also put some pressure on other competitors, I have no doubt in what tst has been claiming in their news release that there are multiple parties that are interested in TST.
I am holding on to it, at least for next couple weeks to watch the trading patterns,
worst case scenario, sell after the transfer and pocket the 14 cents.
GLTA