re: News: Slater & Gordon Limited - ASX Small... I'm not sure $2.50 is a "ridiculous high".
Market cap is $275 million which is less than their WIP and debtors. Net assets (mainly the above 2) is $195 million meaning an enterprise value of only $80 million. Given the profit this year was $28 million with good growth prospects this stock seems unbelievably cheap.