Who want to own some dirt cheap lands in the sunshine State calls California?
If you didn’t have the mojo to buy them cheap during the 2008-2011 periods, here is a chance to pick some up thru $UCP.
$UCP was recently IPOed a week or so ago and the market cap is only $110 millions at current price of $14.20. This is what I believe to be below the book value of the lands they own.
Let’s just say that if the book value is based on purchase price of the land in 2008-2011, what do you think these lands is worth right now?
Edit: I’ve forgotten to mention that $UCP received $116.25 million in cash (7.75million x $15) before subtracting IPO cost. Therefore, basically, current market cap for $UCP is eerily closed to their cash value right now WITHOUT their land values being factored in. Can you spell U N D E R V A L U E?
Since $UCP has only been trading for less than ten days, I can’t present a technical chart to show trend; therefore, I’ve bought this one based on what I believe to be the most undervalued land grab in California.
Below is the daily chart for $UCP:
Btw, $UCP has an outstanding share of 7.75 million shares; how much of that do you think goes to the float? This is the stock to buy when no one is aware of it yet…
My 2 cents.