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Undervalued and Underperforming

When back testing or using a forward-looking model, one would expect the stock price to be trading closer to $2 than .50 cents. Total assets fell by 50% last year, but the stock price suffered a 90% decline. I'm not saying it's definitely worth 2 bucks a share, but the data suggests that at these levels, it is undervalued.
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I have a corporate finance background with a good record of identifying undervalued stocks ready to break out.
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