Looking at the price history of the stock, there is most certainly a concerted effort to maintain the same price range for a long time. The reason for that is usually a suitor is in the wings and will keep a lid/pressure on the stock for many many months before offering a "premium" or there is an offering in the wings. One is good the other not so much. No doubt about it the stock price is being purposely kept in a tight range and will not be allowed to run higher despite outside market conditions. Must be very long term goal oriented. Not a trading stock at all. Too dull.
Then you have to ask yourself this!!!
1. DO you really think a company is going to take on EXEL'S almost 350mm in DEBT at this stage of the game for EXEL for anything but a SMALL premium to the existing market cap?
2. DO you really think the person in charge (Morrissey) is going to want to sell the company for anything less than what would make him VERY RICH (he's probably looking for something ridiculous like $25) and be OUT OF A JOB AS CEO? I hear he has a huge ego? He knows he won't get another shot at THAT title!!! You better BELIEVE he has rejected any and all sniffers who have thrown out a REASONABLE number and they have walked away laughing thinking "Well, we'll just wait as long as it takes because we know this guy will have to continue to DILUTE to keep things rolling..and there are already almost TWO HUNDRED MILLION SHARES OUTSTANDING!!! That will just make the price even cheaper down the road!! Ha Ha Ha".
Yes, those foolish enough to buy almost SIX THOUSAND CALL OPTIONS for a SIX DOLLAR TARGET were out of their minds. The person that WROTE those calls knew what they were doing. I wish I would have known in JANUARY what I know today!! But I think that sort of trade is looking like a good bet this year and can repeat many times!! Yes, the price of EXEL is at the bottom of the barrel because of the horrific financials and the need for another offering. That's my guess. A suitor is in the wings at this juncture? HIGHLY UNLIKELY.
It was nice to see a NORMAL post in this forum though and a post from someone who is not a PUMPER like all of the guys in this forum!! You are correct in that it is very safe to say EXEL will not be going UP anytime soon if years of HISTORY is any guide.