IMO shorts have to cover their losses and don't want to take a chance there is a higher offer coming. I personally am holding my shares for awhile to see what shakes out of this. I don't believe the BOD acted in the shareholder best interest which is why the large number of law suits are occurring. I will be moving to TSRO which is being run by MOGN's former CEO Lonnie Moulder - at least he knows how to get shareholder value. I believe ASTX should have gotten at least double digits. GLTA
I agree with everything you said except for the short covering causing the above buyout pricing. With the huge volume over the past few days and the small number of short shares, it would seem that shorts could cover in an orderly process without enough demand to bump the prices.
I decided days ago to hold my shares looking for a higher priced offer, and I am curious if one might be in the offing.
I was surprised and pleased to see all of the legal announcements regarding the buyout price. There is still some play in this stock.