My resident speccie has been active over the last couple of days: up and down, however, nice to see some movement. The Short interest is nothing to get too excited about, so unlikely to see any short squeezes arrive here.

It’s the leverage. Any pick-up in earnings that covers the fixed charges will supercharge the ROE. As far as fixed charges go, Depreciation acts as a fixed charge, and it has been heavy over the last couple of years. If management decide to reduce the Depreciation charges taken, the charge to earnings will be substantial, which might ignite some interest in the common.

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