GREY:SCPZF - Post by User
Post by
pmac2015on Apr 18, 2015 7:14pm
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Post# 23643847
Big Run up late Friday
Big Run up late FridayI'm fully invested at this point so it's hard not to get excited about the run-up yesterday.
Although we shouldn't get carried away because the volume was pretty light. And with a shallow following and a fairly low market cap it's easy for spikes like that to occur. That being said, it's still trading at less than 50% of NAV by my calculations so I'm going to hold on and see what happens.
I think a real catalyst could be the first quarter report. I don't see how management does not address the unreasonable discount to NAV. And perhaps there are some investors sitting on the sidelines waiting for the report to give them confidence that the underlying investments still hold value. Could be wishful thinking.
An interesting thing to note is that ICD, SCP's most valuable asset is up over 80% from it's Janaury low. Despite the run up, it is still an incredibly cheap asset at this price given that the replacement cost of it's equipment is probably in the range of $12 to $15 a share.