CLW → $45.00 by Nov 1, 2026.

A year ago I wrote here about buying Clearwater Paper (CLW) [at 40c on the dollar](https://www.reddit.com/r/ValueInvesting/comments/1ngu88c/buying_assets_for_40c_on_the_dollar_clearwater/). Stock was around $21, tangible book around $50/share, and I put 20% of my portfolio into this company. Then it got worse. The stock got cut in half over the following months and I kept buying the whole way down. In April, after Q1, it dropped another 20% and touched $11.73 intraday, just below the Covid low. I got shares at $11.78, which was …