Ok, I'm not really a stock-person, so maybe some people can enlighten me:
Some people here have pointed to the big stack of money NCSoft is sitting on to suggest that their market capitalization decline doesn't matter much. To me, that would indicate a even bigger problem.
Gross simplification here, but it seems like Market capitalization is the perceived 'worth' of a company. That includes the value of all currently held assets plus the value of potential future earnings. If you're sitting on a pile of assets and you're declining in value, then people are losing confidence in your ability to bring in future earnings.
To me, the "hitting rock bottom" isn't a stock value hitting "0" in this case, but somewhere around ~53,000w. Around that point, the market valuation would be close to parity with the assets I've heard it said that they're sitting on. If it dipped below that, it'd be more profitable to cut up the company and sell off its assets. You know its worth at least that much, after all.
So, if you went from a 52-week high of 328,500 and now sit at 141,000, then you've lost close to 2/3 of the value that's attributed to future potential...
Am I missing something here?
(rough numbers on the back of a napkin and never invested anything here, so please help if I'm missing something here..