a strong buy, page-2

i was thinking of applying the same logic.
however you know that they are going to use this cash to fund future growth opportunities - they are not going to pay it out.
so the share price will only reflect the value of the cash if they think the investment in 'future growth opportunities' will be worth something at the end of the day.
with the failure of pi88 - people are very doubtful of their ability to do this.
it gives the share price a backbone to an extent but it doesn't make it a buy in my mind - unless you have faith in management to deliver on the alternatives.