ODP is a Great Spec Buy

Shares of ODP have performed well in the past several months, as turnaround efforts seem to be achieving favorable outcomes.

Even better, they are paying a 3.34% dividend while you wait, and the payout ratio of 52.6% seems manageable to maintain, and barring a plummeting of sales, seems safe to me. They're also cheap at 8x 2018 estimated earnings per share.

Shares are climbing nicely since I bought at $2.41 on May 21st (+22.34% not including dividends). This current pullback to the breakout level is holding as support, with additional support from the 200dsma slightly below at $2.85.

I'm adding to my position and highly recommend you consider this name in your portfolio for a longer-term spec play.