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Shanda Games Limited (GAME) Message Board

  • joebigbuck joebigbuck Apr 19, 2013 3:08 PM Flag

    Crazy valuation.....

    If you look at GAME's latest numbers they have nearly 500M in cash (334M + 150M loan to parent company....SNDA taken private last year) and make about 50M a quarter.
    Right now the market cap is around 750M, meaning if you add their cash + one year's worth of earnings it equals the entire value of the company.
    Normally I would say this is your basic Chinese scam, only Chen took SNDA private so I seriously doubt it.
    My guess is GAME will follow the parent company sometime in the next year. Currently GAME continues to buy back about 100M $ a year in shares. With only around 200M worth of shares outstanding he doesn't already own it won't be long before he just buys up the rest in one swoop.

    Sentiment: Strong Buy

 
GAME
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