Tis' time to be helpful!John Templeton famously said something like:
I help.
when people really want to sell (capitulation) I help them, I buy;
when people really want to buy (bubble) I help them, I sell.
I am doing my share to help some motivated FGE sellers!
To me it's value in plain sight and multi-bagger potential.
Look at recent slide deck where they outline the investments. You can control a ~300M updated asset for $25M market cap plus net debt. This should trade at least near book value, a 4x increase, imho.
My feeling is that the market is currently doing its analysis based on stock price movement, illiquid and easy to move, instead of fundamentals. It does stun and test one conviction. It's also tax loss selling for sure, but there is hardly any buyer! It is now too small for institution.
If you sell now, can you get back in soon enough and this cheap?
it would not surprise me if one of these day a larger opportunistic player such as Resolute, Canfor Pulp, Mercer, Rayonier, Aditya Birla, Lenzing, etc buy them for a big premium. Now that it is single-asser, it's very easy to bolt-on, and it's bite-sized.