Prestley may look good at $1.00 but it seems that's what it is worth?
Book = $.11, neg earns, probable neg book value in the future.
A couple of new Presley tracks here in San Diego are hot: phase 1 started at $230k now #3 is $275k, the other was $165k, with slow sales, now they sell fast at $170k - $200k. They only build 6 or 8 homes per phase - I wonder if it is because of a poor cash position. I didn't care for the homes they build though.
The question is if the hot sales and escalating prices can put PDC quickly in the black?