Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open.

If a company's assets are worth more than its market cap, can one say the shares must be undervalued?
Imagine a poorly run store in the middle of downtown Manhattan. It has been in the family for a 100 years but the current generation is incompetent regarding running a business. The store is worthless because it is losing money, but the land it is sitting on is worth millions.  So yes an asset of the company can be worth more than the entire company.  What one would pay for the rights to the land, vs the entire company are not equal.