Screening for negative enterprise value (Market Cap + Debt - Cash) is pretty popular. There aren't a whole lot of stocks that have it, but you can usually find

Screening for negative enterprise value (Market Cap + Debt - Cash) is pretty popular. There aren't a whole lot of stocks that have it, but you can usually find a handful based in the US. They are sort of an inefficiency. In one sense, you are buying a stock for less than the cash on balance sheet. You could come in and liquidate it, making a profit. On the other side, sometimes stocks trade at negative EV because management is doing some terrible things. Maybe they are burning through cash at an alarming rate. Sometimes an activist will come in and stop the cash burn. I would also like to add that you can find negative EV stocks abroad more readily. There was a period when these opportunities existed in Korea (I think around 2004). It was pretty amazing if you were an investor.