Because in share trading theory, people are supposed to invest...

Because in share trading theory, people are supposed to invest into a companies future earning potential.

In the case of MOL, the cash is going to increase until the iron ore reserves run out but people are frustrated about the non existent strategic direction of the company because of the major shareholder Hanlongsitting on its hands.

I have said before that I dont see any down side risk with buying at these prices. An investor in MOL needs some patience however when a new direction is announced, there is a high likelyhood that the share price will move fast upwards.