Shaun Currie, CFA
Long/short equity, hedge fund analyst, momentum

RealNetworks, Inc.: A Small-Cap Stock Trading At Cash... But Is There Any Other Value?

When investors come across stocks that are trading for the cash on the company's balance sheet, they can think one of two things: This is a steal or this company is in a lot of trouble and the cash is probably going to get burnt through pretty soon. So what's the correct answer? Basically, it's company-specific. In the case of RealNetworks, Inc. (NASDAQ:RNWK), I believe it is the latter of the two choices, but here is a rundown of the business so you can make this decision for yourself…

Business Overview

RealNetworks, Inc. competes in three primary segments: RealPlayer, Games, and Mobile. We will go into more detail about each of these segments later in the report,...

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