WCI near it's 52 week low...Is this an opportunity to buy now?

Since Carl Icahn's $22 tender offer was been rejected and the stock, WCI Communities (WCI) which builds hi-rise condos in Florida, is close near it's 52 week low trading at $14.28 on Friday. Is this an opportunity to buy? It's book value is at $23.19. It is heavily shorted. Almost 37%!

Billionaire financier and activist investor Carl Icahn isn't giving up that easily, who has a 14.6 percent stake in the company, said on Feb. 15 that he wants to replace the entire WCI board of directors.

"WCI is actually trading for less than its shareholder equity. But what do you think red ink and asset writedowns do to book value?" -Dumb Move, WCI

People's comments including Jim Cramer