AJX is a good business with good management and a lot of potential.
The issue is around valuation.
Using a probabilistic valuation method (Monte Carlo) I came to conclusion when sp around $1 that closer to 40c was fair. The difference was over-hype to retail investors and misunderstanding. Given couple things happened since, I would adjust my view to 48c.
Good businesses with good management can get over (or under) valued. A technology stock I'm long in I have opposite view and see it well undervalued.
AJX Charting, page-15
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