Mark -
As usual, another set of good comments.
If I get your take on things, any news that comes from the company now just seems to be treated as another excuse for a take-down in the SP.
I like your concept of that any low-ball bid will just set the new floor for the share price. Someone on this board speculated that just such a bid was being considered but I wouldn't believe it until I see it.
In the case of ZEN it is best to have low expectations and then be surprised to the upside. For far too long we have had grand expectations only to be let down.
It's time play our cards close to the vest.
- panamax