Looks like there is some serioustree shaking going on here. I watch the market depth closesly on this deal and the bids were stacking up like cordwood in the 1.22 - 1.25 range, and they they were suddenly yanked. This is not the first time this has happened as similar activity happened last time it ran up into the upper 1.20's range. From a games playing and trading prospective, this deal looks excellent. However, the mm's don't want to take it to the next level and it seems they just want to flush out more paper.
Obviously this deal is very tight and there has been a serious lack of news recently. The next bout of buying should move the price up into the 1.50 level. Hopefully these guys have some decent relationships with investment bankers as there is next to no paper out there and in order for some meaningful trading to take place, they have to increase the float.
Let's hope that the lawsuit does not proove to be disastrous..
Good luck to all longs..
Dave