I blame the scary exuberance on the Halloween effect that is coming this week. For my money, I love the current action, heavy volume and solid price, things don't go up in one day, but in steady marches with a few setbacks.
Big companies would sooner spend $5 billion on something where the risk was 5% rather than $100 million where the risk was 50%. Until we get the PEA the risk is likely too high for any big company to buy ZEN. But they will be happy to pay more for less risk, thats just how it is for big companies.
Also don't forget that for any company to make a purchase of another company it really does not matter if the price is $500 m or $5 billion, they have the same hurdles and board challengs to over come.
Patience and enjoy the ride this part is fun....