I, for one, never have put much faith into the $12 and $24 a share conjecture, but there is serious value in this stock. Hell, there's $305million in market capital right now. WAMUQ's are approx. 15% below their 200 day average. With the speculation and volatility, there is a chance to make some serious money. Any laymen trader can see that information.
As for the $24 a share? That seems like it's a bit much. My sociology professor in college stated, "When the need to believe increases, the ability to tell truth from fiction decreases."
This can be applied to religion, politics, and even WAMU. Some people REALLY need to believe WAMU will pay out $24 a share and some REALLY want to believe that WAMU was insolvent (Dimon). Lol... I believe both are fiction.
Still, I'm in it to win it. If it pays out $24 a share, I'll be a happy camper.