Seeking Alpha

Over the past few years, the once mid-sized New York investment bank, Gleacher (NASDAQ:GLCH), has been in a downward spiral; meanwhile, discontented employees have been jumping ship. The market has dropped the stock price from $160 in 2009 to $14, where it sits today. Most of the drop has been warranted; however, the stock is currently trading much too low. Gleacher trades far below current book value and under future book value, making it already a deep value stock. Plus, there are signs of large changes in the firm's future, which would only serve to add value to the investor should they occur. Currently, activist investors are restructuring the company and attempting to mitigate losses. More than likely,...

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