Originally Posted by
YVRYEGYVR
This stock is getting hit hard again.
i am now regretting not selling this when it rallied like everything else in April.
I've lost all short term earnings, and I was playing this for some short term rally exploitation, oh well.
I'm convinced AC will be hit hard and long this time unfortunately. No matter how strong their balance sheet is, international paid J airline travel for business and leisure is going to be the last to recover. I think there will be a few more fake rallys not based on real fundamentals.
This is despite positive news from my province, BC, where numbers are dropping rapidly. Hospital admit numbers are essentially in single digits! If this trend continues positively, I still don't see myself taking leisure J trips for a while...
The market is incredibly volatile at the moment, and you can expect AC's beta (volatility relative to the overall market) to remain high for quite some time. RBC and Loblaw's are down 3% today, for example, while AC is down 8%. On the other hand, when the market is going up, there's a good chance AC will be on the other side of that, outperforming the market by a good margin.