Aug 10 AT 2:50 PM Dustin Earley 0 Comments

Investors have declared HTC worthless

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HTC has had a rough couple of years. Sales from the company have fallen 75 percent since 2011, while manufacturers like Apple and Samsung have seen nothing but success year after year. Today marks a new milestone in the journey to the bottom for HTC, as investors have declared the company worthless.

Detailed in a post on Bloomberg, HTC is now trading on the stock market below its cash value. What this means is that essentially, all of HTC’s back stock including products on hand, warehouses, supply chains, factories, research labs and real estate are all worthless to investors. The only real asset HTC has to its name at this point is its cash reserves, which are just enough to keep investors from all but burning the company to the ground.

While HTC executives have detailed plans to generate revenue and get the company largely profitable again by focusing on the high-end of the smartphone market, no one’s buying it. According to Bloomberg, “analysts also now see profit eluding HTC through the end of 2017 and none of the 22 tracked by Bloomberg that updated their view in the past three months recommend investors buy the stock.”

HTC may still have some fight left in ‘em, and along with continuing to manufacture high-end phones, they are also planning to branch out into more product segments like VR. But being told by investors that your cash is the only thing going for your company can’t possibly be a good feeling. Here’s to hoping HTC can pull off a miracle.

Source: Bloomberg

Dustin Earley: Tech enthusiast; avid gamer; all around jolly guy.

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