You'll know as they have to make a public filing I believe before selling, it will be big news when it happens. Most selling is probably just computers, no reason to sell at 18 when it was $20.50 3 weeks ago, not much has changed, quarter wasn't that bad. It's been a painful ride but still holding out for the buyout, which may turn out to be stupid but won't know for awhile. This feels like it's being taken down with the markert, not RVBD specific.
Last Quarter – after the initial Elliot offer – RVBD pre-announced earnings that beat estimates to help fend off Elliot. Now we see the opposite where they missed guidance and the raised offer is looking that much better. I have seen this take place too many times before. Although RVBD wants to blow Elliot off, as the share price continues dwindle below offer price they will be forced to sell at some point (to either Elliot or some other party). I guess the risk – especially if this market takes a big hit – is Elliot will retract their offer (or drop it lower).