Wall St. doesn't cover it because most of the big houses have price minimums, market cap minimums, or ratio guidelines. If the stock doesn't fit within those they will not cover it. Goldman can not actively pitch a $0.28 stock to clients. If a client requests it in their account they can make a trade to load that account with it. A big part of research is to pitch ideas to clients which generates trading commissions (read: revenue). They are likely stopped out by the price, mkt cap, or ratio guidelines. That is why I dabble in small and micro-cap value plays, because wall st DOESN'T cover it, which makes for ample opportunities to uncover value. It is blessing they don't cover it or this would be trading for at least book value, and we wouldn't be getting such a deal. You'll never see a $50B company trading for 20% of book, but you will see plenty of $80M companies trading for ~20%% of book.
That's how it works.
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