The bulletin boards and social media were buzzing with the rumour and speculation about the future of Avanti Communications (LON:AVN).
However lead characters in what is fast becoming AIM’s equivalent of a day-time soap (outwardly dull, but oddly compelling) remained schtum today.
Avanti shares, meanwhile, galloped ahead a further 40% on Friday and the price has surged 80% in the last five trading days.
A cursory glance at share chart on Google reveals there has been above average trading volume in stock of the satellite data services firm.
So what’s going on? Well, in the middle of last month Avanti, which is in the throes of refinancing, hoisted the ‘for sale’ sign.
The giant Inmarsat (valued at £4bn) was seen as a natural buyer, but on Monday ruled itself out of the running.
That should have prompted a collapse in the price – yet as we have seen it didn’t.
A report on the FT’s Alphaville market blog perhaps provides a clue to what might be driving the share buying flurry.
It suggests that, before withdrawing from the Avanti auction, Inmarsat had, after making a low ball offer, wanted to table a bid of 140p a share for the business.
At that point the stock was trading below 30p. Today it is changing hands for 48p.
A spokesman for Avanti said he had no comment on the price movement, adding there was "no announcement due".
Inmarsat said: “We have nothing to add to the statement we put out to the market on Monday.”
Proactive quizzed a market maker who trades in the stock, who was sceptical about the bid rumours that is driving activity.
Meanwhile, on social media there was disbelief, as the tweet below reveals.
@timkempster It doesn't make sense that anyone would offer 140p.
Inmarsat wanting to see the books & mooting a high fig to get in the door?
— MrContrarian (@MrContrarian) August 5, 2016