OT, sort of:
"Gateway (GTW: news, chart, profile) was trading at $1.50 above cash on its balance sheet with no debt back in September"
I find this VERY difficult to believe. It may be that gateway is saddled with that dreaded disease, Enronitis.
I would think that for a company that hasn't made any money for 3 years, and pissed away a Billion Dollars on the Gateway stores, would not be wallowing in debt-free cash.
Perhaps, they have the receivables factored, and don't disclose the debt on the balance sheet. Which GAAP allows you to do.
I dunno, I'm just noodlin here, but there must be some reason it went from 80 to 9. HMMMMMMMMM. |
