A lot of times these acquisitions out of a bankruptcy proceeding end up being pretty sweet. Hopefully this will bump up their revenues and bottom line.
I agree, their earnings lately haven't been anything to write home about. Tangible book value is $3.31 a share.
I have seen lots of $1 stocks with strong earnings and solid balance sheets triple, quadruple and more, but I have yet to see one go below zero.
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