I checked on Stockchase to see what people were saying during much of TRE's history. There were cheerleaders at all times but there were also many seemingly prescient analysts...
2001 - Stock has under performed and info is difficult to access.
2002 - Visibility of earnings is poor so shares are depressed.
2004 - Analyst visited and found that they did not have the forest capacity they said they had. Can't count on their numbers. Management integrity is in question.
2004 - Talk about how much $ they'll make from harvesting trees but spent 70 million on new trees and only got 50 million in in revenues. Suspicious.
2004 - Has been successful in the market and controversial. Doesn't like the risk of dealing with unknowns.
2004 - Nothing wrong with the company but managament has done a very poor job of communications to shareholders and the investment community.