The spread does feel more sensitive again, but who knows what these crazy institutions may do next. I believe this selling is essentially because certain fund managers don't want a blot on their copy books at the year end - i.e. they are seen as holding a bad performer. Their clients pick up the cost though, if they're selling near the turn.
I'm averaging around 24p and looking forward. My rationale is not based on a bid, nor do I expect the shares to perform strongly and quickly, there are 180 million of them and disillusioned holders - so it may take time for sentiment to turn. Against this however, Kevin Roberts is starting to deliver nicely and I'm targeting a 30p range in 2006 on a stand-alone basis. I don't base my buying on a bid but this remains an interesting speculation with mobile gaming a consolidating industry and Superscape the 3D market leader. 3D looks to be the current focus of growth.