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I've analysed many companies over the years trading below cash value. That is typically due to a company either sitting on the cash and not paying (any or substantial) dividends to shareholders, or the market doesn't trust the management of the company to use the cash appropriately. What are they going to do with the cash?
I've covered companies that trade at a discount to its cash position before - in those cases either the market doesn't believe the reported cash pile or the market assumes that management will destroy book value through investing /spending the cash. However, in one of those cases it took the market several years before it seemed investors believed the cash pile was real and then the stock went up 150pc in less than 6 months.
As far as im aware hostile takeover would be blocked by government due to irratic trading caused by the pandemic. Also company cant be sold for less than the highest market cap within the last 12 months.which is over £12 a share. Might be misinformed though.
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what lol?
https://www.lse.co.uk/ShareShortPositions.asp?shareprice=NCYT&share=Novacyt