REUTERS/Eduardo MunozHTC chairwoman Cher Wang.HTC’s stock has sunk so low that its entire market capitalisation is now worth less than the cash it has in the bank.

In layman’s terms, that means that if you could theoretically acquire all the shares of HTC, it would cost you less than the cash HTC holds — meaning HTC would effectively be paying you to acquire the entire company. In investors’ terms, it means people think the company is essentially worthless.

That seems counterintuitive. Back in 2008,