The equity is trading at $0.46 on the $1 at lowest end of their fair market value estimate. I think management will sell their land at market value and buyback their stock until that price gap is closed. So hopefully at least a double
Yes they're actively marketing ~27% of their land/real estate for sale. They also made a comment in their latest press release that would suggest they prefer buybacks here (posted under question 7)
Always happy to see something I own pop up on the buy list...
Be careful what you wish for my buy recommendations have been the kiss of death
What made you buy this? 🤔🤨
The equity is trading at $0.46 on the $1 at lowest end of their fair market value estimate. I think management will sell their land at market value and buyback their stock until that price gap is closed. So hopefully at least a double
Interesting. Is there any indicators that management is actually willing to do that? Have they ever mentioned anything on that?
Thank you!
Yes they're actively marketing ~27% of their land/real estate for sale. They also made a comment in their latest press release that would suggest they prefer buybacks here (posted under question 7)
Appreciate that! Might have to take a deeper look