Added to YB: 2025-02-11
Pitch date: 2025-02-10
MAKE [bullish]
A.D. Makepeace Company
Author Info
Tiehack Capital searches the globe for extremely mispriced assets in the overlooked and forgotten areas of the stock market (OTC, nanocap, microcap, etc.) This often comes in the form of special situations (liquidations, recapitalizations, bankruptcies, etc.) and deep value stocks. They run a concentrated portfolio (10-20 stocks) and command a large margin of safety. Sign up for the newsletter.
Company Info
A.D. Makepeace Company grows cranberries in eastern Massachusetts. It also engages in real estate development operations.
A.D. Makepeace Company - OTC:MAKE
MAKE: World's largest cranberry grower, $3k/share, 0.3x BV. 3 segments: cranberries (Ocean Spray co-op member), RE dev (est. $75M value), custom soils (fast-growing). $9,163 BV/share likely understates NAV. Opaque financials, complex governance. PT $9k based on asset value. Illiquid OTC stock.
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