Summary Points:
- The stock tanked after the deal with Staples collapsed.
- Management has been taking steps that could positively influence the stock.
- Stock has found a base while its cheap price (under 3x EV/EBITDA) implies that any positive news will help it recover.
Where there is fear, there is opportunity. Office Depot (NYSE:ODP) presents such a case. Value trap or a fantastic opportunity. At least those who bought the stock at the beginning of the month at just over $3 are patting themselves on the back. The stock has not been this low since 2012. Is there an opportunity? That is what we will investigate in this article.
