On March 22, 2013, BlackBerry closed out the trading session at $14.91, which calculates out to $7.8 billion in market capitalization. That very same day, BlackBerry brought its premium Z10 phone to the United States market. Wall Street obviously was not impressed, as traders immediately sold off BlackBerry stock to a near 8% loss on the day. The BlackBerry balance sheet does include $12.6 billion in assets above $3.3 billion in liabilities. In nominal terms, BlackBerry is trading for less than book value. Investors are sending a clear message that this company is worth more if sold off as scrap parts at the junkyard, than it is as an ongoing business. The $5.6 billion in combined property, plant and equipment, and intangible assets, however, are illiquid and effectively worth zero in real terms.