I know a little about stocks, but can someone explain to me why TRAD is selling below the cash it has?B"H

According to Yahoo! Finance:


Total Cash (mrq): 518.72M


Market Cap (intraday): 502.49M|||That's not net cash. Check the balance sheet, they only have $129M total net tangible assets (as of June). Their accounts payable exceeds their cash.|||If you are talking about the stock of Tradestation (symbol TRAD), it has been sinking steadily for the last year. Why? Who knows? It is the WHAT that matters. Year ago, hitting $16, now just above $11. That is 30% or so. And that is the WHAT of the matter, regardless of the front office statements about financial fundamentals.