At one time primarily a manufacturing company, the business I’m writing about today has transformed into an online marketplace after selling off its manufacturing arm, changing CEOs, and rebranding under a new identity. The platform has improved dramatically, but the financial turnaround is still a work in progress. Despite this the company is still currently trading below its GAAP net asset value and for having an EV lower than its market cap, I haven’t seen much coverage on them at all.
That’s right, once again Wall Street continues to ignore companies that aren’t AI driven even though it looks like the worst of their recent troubles are finally subsiding for the company I’m going to be talking about today. They’ve survived lawsuits, SEC investigations, on top of an industry wide downturn. Now that the clouds look to be parting and the skies look to be clearing a little for this company, all they have to do is successfully operate their one remaining business segment. If they can pull this off the stock will be long overdue for a rerating.