Webjet six years ago was mostly focused on the Australian domestic market, at that time SP of WEB was below $3. The SP went up with globalization of WEB business in last three years. As you say, global business is not yielding anything but Australian domestic may pick up short term. That means, if you count only Australian domestic market share at peak WEB earning won't be enough to justify $3 SP. Consider dilution on top of it and things will not look any where close to rosy.
We were lucky that crazy market brought SP above $5, wise would have exited at profit, greedy may hang on and see it inching up little more from here, but if pressure comes this will go down in no time. IMHO, better to book profit than going back into loss in greed of little more profit.
WEB Price at posting:
$4.95 Sentiment: Sell Disclosure: Not Held
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