Interesting play. Stock has a BV of $7 but is trading close to $1.60 give or take 10 cents. It has become nearly impossible to invest on value anymore and not being able to devote my days to trading stocks like this are a bit frustrating.
The FEAR tactic are the the FDIC currently has a CDO and the HOPE is that is will be lifted. There have been some interesting new players in the stock and their statement gets stronger each quarter.
Is there possible 4X upside? Maybe. Is there possibly a closer and handed over to another institution? Maybe.