Asset Play

What Does Asset Play Mean?
An incorrectly valued stock that is attractive because its combined asset value is greater than its market capitalization.

Investopedia explains Asset Play
This type of stock is called an asset play because the impetus for purchase is the fact that the company's assets are being offered to the market relatively cheap. Typically, investors involved in an asset play will buy these stocks in hopes that there will be price corrections causing the market capitalization to increase and thus lead to a capital gain.