Even after todays hammering, @68c VLL is still trading at a revised 2005 p.e. of just over 18.
For a company that has now issued 2 profit downgrades, and absolutely no management credibility, the current p.e. makes the stock look very expensive.
Maybe around 12-13 would be more appropriate that implies VLL should head towards 50c in early course.
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Even after todays hammering, @68c VLL is still trading at a...
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