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Non-Tech : James Cramer
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To: StockDung who wrote (723)10/12/2000 7:47:41 PM
From: RockyBalboa  Read Replies (1) of 766
 
True, you get the company for free.... but I still wonder whether company trading at cash is cheap...if the company is burning cash like there is no tomorrow.

The terminal value is clearly nil in that case

There is one question for you. Why does STMP trade at 50% cash?

If they fire their entire crew, rent a small office space, buy back some shares from the insiders, and invest the remainder in t-bills they could handily pay some 7 to 10% dividend a year.

Are the long term commitments (for example to landlords, Internet Providers/Advertisers etc) killing the companies alone?

Or is the money on the balance sheet (STMP had >300 Mil in June) not for real?
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