Well, at least someone thinks it could be worth more than $0.50/share within the next four years. Nice three bagger if they are right. It was a nice disclosure for a change. Maybe some experienced management has joined the team. Ignore all of the Peterson haters. Old news. There is no one left around AXION who even knows who he is or what types of cigars he smokes.
This company appears extremely overpriced relative to its short history and potential. Why this has been bid up so high is beyond me other than the fact that buyers are betting on the greater fool theory of RE investing - prices always go up. I see no way that the management has the capability of adding sufficient value to its properties to justify the extreme price over book value. I wish I had the courage to short it, but the greater fools may stay around longer than I can. Peter
This slow bleed is difficult, but the long term value prognosis is still excellent. My usual reaction to slow bleeds of companies I like is to buy more, but I am already choking on this from purchases during prior drops. I am not choking as badly as Seth Klkarman, who is a whole lot smarter than I am, so I'll put a tourniquet on the bleed and wait it out. This is dirt cheap (but could get even cheaper)! Peter