>CY stock is *not* tracking correctly taking into consideration the value of its SPWR holding.
Although both stocks went up in last 3 months, the intrinsic core-CY value actually drops to all time low. I keep a spreadsheet to calculate Core-Cy value. At SPWR's current price, Core-CY is only $5.7. If one is to believe half of the property and plant value on Balance sheet, the rest core CY value is below $4.
I find CY shareholders quite passive. I wouldn't assume shareholders' coup to demand spin-off. I will be satisfied with a secondary offering on SPWR to reinforce CY balance sheet, which indirectly bolster shareholder's value.
Many observer may still deem SPWR's valuation as pocket of air. But SPWR's technology leadership certainly leaves the rest jealous.