Steady on fella. It was not an attempt to downramp. We all compare stocks when we buy. Shall i buy this or the other? If you don't, maybe you should.
I hold both but cash is no good for a company unless it is being invested. No SEA does not have as much cash but once SSN sold their acreage in effect it put a value on SEA's (in effect as good as cash but maybe better in a rising market).
The reason I bought SSN is for the cash balance in that it mitigates risk. As an example, look at AZZ, they are in negotiations to sell 24k acres in Eagle Ford, which goes for around $10k an acre = $240million. Their market cap is $140m. Why is this? The answer is because the market does not think the management can manage that cash. Of course this is not the case with SSN, but all I am showing you is that there is more than one factor when it comes to valuing a company ie not cash balance along. I bought SSN for the cash balance and quality of management who work for a low salary.
The reason for the price weakness is the lack of newsflow. Nothing more nothing less. It will change.
SSN Price at posting:
6.7¢ Sentiment: Buy Disclosure: Held
