Four Names, Four Different Types of Cheap

If I had to split these four into buckets, Redwood and Air France-KLM look like discounted cyclical value plays. Magnachip is the turnaround speculation. And Satellogic is the asymmetric growth bet.

So the real choice depends on what kind of cheap you want.

If you want discounted assets with operating improvement, Redwood stands out.
If you want a deep turnaround with high volatility, that’s Magnachip.
If you want a cyclical recovery with stronger cash generation than the stock price implies, that’s Air France-KLM.
And if you want the highest upside with the highest execution risk, that’s Satellogic.