A deep value investor would have bought RFP years ago based on whatever thesis was out there at the time.
A patient deep value investor (not me certainly) would have bought it at $1-2 during the downdraft.
If value investing was all about margin of safety, that aspect has become ten-times more important in todays market.
If you are a cigarbutt type investor, 20 cent on the dollar is the new 60 cents on the dollar.
"Having said that, it is quite comical to experience how a commodity stock can be hammered beyond all logical comprehension. RFP paid a special dividend of US$1.50 a share in 2018, and it was trading as low as US$1.17 per share in April 2020. Back in March 2020, the company announced that it would buy back 15% of its common shares for US$100 million. At the lowest year-to-date price of US$1.17, the whole market capitalization would be approximately US$99 million. In other words, instead of buying back 15% of the company with US$100 million, it could repurchase 100% of the company at one point. RFP shares have since recovered 300% to US$4.69 as of August 25, 2020."