* Market cap: 8.6B
* Cash: 8.4B
* Debt: 4.3B
* Ebay Holding: 4.9B
* Bitcoin holding: 0.5B
Book value at about 10B > Market Cap of 8.6B
I understand retail business is slowing, but it is still profitable, and is worth at least 1.5B (valuing 10X of 2024 profits, 2025/2026 is much higher but impacted by bitcoin and ebay price gains).
So the discount is >>> 20%
What am I missing? Is meme stock value all of a sudden?
Disc: Not sure if I am going to invest, but definitely curious especially ahead of earnings tomorrow