Believe it or not, there are actually some undervalued dot coms. These companies actually have a lower market capitalization than cash on hand, and could theoretically buy back all of their stock and have money to spare. What an interesting warped business strategy. IPO and take in a bunch of cash. Conduct your business in such a way that your stock price falls below the IPO price (many companies have done this without trying at all). Buy back all of your stock, close down the company, and walk away with the difference. Sounds like a better business plan than many I’ve encountered. Seriously, though, it must be depressing to go to work every day at a place where the market has valued your company’s business at less than zero dollars. Ouch.