The stock market doesn't value a company based on its balance sheet, in the short or long term. Emotions, both fear and greed are major drivers that distort the price. It can be fear or greed that is specific to the stock or to the overall market. Just look at APPL, a company that is as far from GTCB as is possible. It was over $200, then dropped to the $120 just after the past earnings report and is now over $170. What, did the company's intrinsic value get really bad and then really improve, all over the course of a few months?
