Crazy valuation Assets = $11.71 vs SP $1.62If you look at the actual estimates from the company rig value and you compare it
to the selling price you can see why i am so bullish on the prospect of this small cap.
Akita actual estimation value of their 15 us rigs is 255 million or 344.3 CDN
Akita actua estimation of their 20 CDN rigs is 120 million CDN
Akiat as 39,650,191 shares outstanding so the actual value of their rigs is $11.71 VS
a selling price of $1.60
Lets say you think the comapny is overly optimistic in the valuation of their assets
and cut it by whatever amount you want, you would still get a multiple time the value
of the actual stock price.
I would understand the selling price if you would think that this company is not profitable and is
going under but that is not the case.
In fact, since the depth of the pandemic, this company as been improving quarter after quarter.
Once in a while, stock market doesn't make any sense and this is one of them
The disconnect is just to big even for a small cap.
Time will tell but i firmly believe that this stock will AT LEAST double over the next 12 months.