The action of this stock typifies the fact that the stock market has not seen how long and bad the resdiential real estate depression has been, or will be. Note that investors have incorrectly thought the RE markets were bottoming and saw light at the end of the tunnel every winter for 3 years now, and the price rallied:
Oct 06- Feb 07: $36 to $54/sh Oct 07- Mar 08: $22 to $36 Oc7 08- Apr 09: $12 to $21
Each time the market was wrong, and note the lows and highs of each cycle continue down.
I do not see the upside in this stock yet. The book value of $15+ is still a joke, the assets are not priced at market values. You better figure out if RYL is one of the industry survivor's before you put a dime into it.