RE:Book Value of $11.72
Good post. I think the stock should eventually trade above the historical P/B, given the holdings are more visible now (most public) and the debt level is reduced. However, near term, there is likely going to be more deb holders converting, and selling their shares, which will hold back the stock price. Mgmt is talking about doing more deb redemptions, and no one wants to be redeemed when they could convert and sell shares at a higher price.