CWGL - Crimson Wine: Undervalued Land But No Clear Path To Monetization
- Crimson Wine owns iconic Napa Valley winery land, but has been unable to produce significant operating profits from its estates.
- A loyal shareholder base has finally thrown in the towel on the stock; shares are down 50% since 2017.
- I believe shares are oversold short term due to concerns about the 2020 California wildfires.
- Even once these pass, however, Crimson Wine will still be an underwhelming operating business.
- There's value here as a pure inflation hedge from the land assets, but don't set your expectations too high.
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Crimson Wine: Undervalued Land, But No Clear Path To Monetization