BWNG traded up over 16% to close at $14.78 on Monday after it was revealed that investor John De Mol had bought a 5% stake in the company, and may be looking to buy more shares of the company. De Mol has exactly 5.03% of the company, and he acquired shares between the price of $6.99 per share and $12.65 per share. Investors were particularly intrigued by the possibility of him buying more shares, or possibly, orchestrating a takeover of the entire company. BWNG set another 52 week high on the news of $14.82, eclipsing its old mark of $13.49 in the process. Volume was heavy, with over 7.7 million shares changing hands, compared to a normal daily average of 1.8 million shares traded.
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