Buying at Maximum Pessimism Every crisis presents an opportunity. Cycles happen. Overall sentiment is very negative and rightfully so. Some of the best buying opportunities are when there is overwhelming negativity. Human temperament works against you. Buy when everything is going great and sell when times are bad. It's not easy to buy when the price is going down.
This company is trading at multi decade lows backed by strong assets. In my opinion the low was a few months ago. Now climbing a wall of worry back to $5. Up 15% in the last 6 months. Fair value is somewhere between $8-12.
In my view extreme negativity is temporary. The sun will come out, and investor temperament will change. Just like when oil went negative, and oil was history... Did you buy? Wine industry is done, world is awash in wine, nobody drinks it. Will you buy?
Cheers!