Some big players are unhappy with the lack of return and are shorting the hell out of it in attempts to force a takeover. I think they had an expectation of solid share price growth or buyout offers, neither of which has happened. Now, egos are involved and someone is going to lose. Wu may end up losing because he hasn't communicated well nor has he delivered the real growth everyone has been waiting on for a few years now. So, his baby, himax, may be snatched up on the cheap by a competitor. Think about it. A few big boys own tons of shares in their funds. They aren't getting the return they want. They have good relationships with some competitors. So, they short the hell out of it, a competitor makes an offer, everyone happy just to get a 30% premium sells, and the manipulators get a reach around from the purchaser. Wu loses. Stock holders get a wash. Purchasing company wins big, and gives a little reach around to the folks who made it happen.
There is clearly a battle going on for control of the company right now. Opportunity is not getting monetized and it's frustrating a few people who have a war chest big enough to put the pressure on.