It’s been another bad day for Gunns shareholders. Since the Australian Stock Exchange opened this morning, the company’s shares have plummeted by a little over 24% on the day, closing at 26.5 cents. The ABC reports that Sydney-based market analyst, Peter Warnes, told the ABC that “I think a lot of people are just fed up with the lack of corporate governance.” As shareholders cut their losses, Warnes thinks a takeover is a possibility. “Gunns’ share register is wide open and you couldn’t rule out a possible raid,” he said.