Extremely volatile. Hoping the company is making a turnaround from its previous operation. The big question is, are their clients going to keep cutting back on their capital expenditures like they have. Their competition is tending to merge with each other. Cyclical stock and may be a trade, but not a buy and hold.
If you own the stock, you are playing that there is some value in the assets they own. The company is not a going concern. Have a huge deficit hole in their pension plan. Individual parts of the company may be better being sold off.
Has about $4 per share in cash. They are thinking of selling an asset that would raise about another $1 billion, which would add another $2 per share in cash. However, the overall quality of the balance sheet is as bad as he has ever seen it. Speculative.