U are correct. Stock price plummeted due to poor performance of company over last couple years with market share losses, reduced revenue, negative profits, debt etc., etc. Comany is making a turn-around (yet to be proven, but looks very good). Not sure book is accurate since there are debt obligations affecting commonshare holder value if the company were liquidated. As things improve on all front, market value should move in-line with book value or exceed book value, thus speculation for a market value of $10=$12 a share. Key reason LTF and I are in this. We think the odds are pretty high that they will get back to those levels over the next year or so.
The real trouble here is that disk drives have no long-term future. SSDs will replace them all over time. They are already making serious inroads. Yes, I know "there is no way!" But that's what they said when some projected SSDs of 100GB. That was crazy to think about a few years back.
Fact is - engineers don't like moving parts. A solid solution will always displace moving part solutions over time. Always.