Naw, bottom may be closer to .13. I am trying to practice more patience myself.
I figure this "stalking horse bid" has to be rock-bottom, so nowhere to go but up on any new bids. Looks like this current bid is about 50% of debt.
I was late to this Q game. Lots of these companies went into bankruptcy court with rock bottom valuations, too and overblown liability claims. Bidder is big board builder NVR, so no BS there.
Lotto.
"This is the business we have chosen."
- Hyman Roth