the only way a company is worth less than its cash holding is if the market believes mgt will destroy the value of the cash they have and IMO, this def will not happen with MEO
other reason is if, MEO held their cash in offshore bank accounts the value of the aussie dollar rose therefore, the cash when converted to aussie dollars is worth less.
now im not 100% sure where MEO's cash is held but, it would take a very big turn of events for a 100m cash holding to be suddenly worth 32m, as stated in your post referring to a 6cps price for MEO
while this is a place for opinions, calling for a 6c MEO price is not an opinion, its just a dumb statement, and if you are soo confident in your theory, show me some eg of companies trading at market values less than their cash holding, and I will explain why, and how very different it is to MEO
grow up buddy
MEO Price at posting:
48.5¢ Sentiment: LT Buy Disclosure: Held
