But I bet a lot of that is in long term treasuries which, if you want to use them as legal tender, are kinda down in price right now (if you don't hold them til maturity). And if they need to take a loan to pay it, those bonds are going to be at fairly high rates. Overall, it's gonna be a stock price haircut for sure. I'm guessing at least 10-20% because of all the money they could have MADE with that money.
Yep. Accounting standards dictate that a cash equivalent should be essentially as liquid as cash from the perspective of the holder. It’s safe to lump it in here.
