that would be reasonable, but the markets can be un reasonable,...

that would be reasonable, but the markets can be un reasonable, and cash backing, is the thing they become focused on. You can get an over sold condition, driven by fear, but cash has inherent value. When a cage is rattled, buying at cash is the best safest rationalization for a support entry. Of course the sum of the parts is worth more. But, it really depends on what people fear, other people will continue to do.

Sometimes you almost need a psychology degree to understand the emotive side of people and their buying selling./ outside of the fundamentals.