Book value dropped because of the increase in the pension liability (along with the foreign currency translation loss).
The pension liability increased because they lowered the discount rate and also lowered the expected return on plan assets. At some point, rates will increase and the liability will decline (like what happened in 2013).
If the dollar eventually weakens, the foreign currency translation loss will also reverse.
I bought some MUEL this morning. I think the stock price reaction was way overblown.
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