Crazy Valuation, page-226

I appreciate the optimism but this is going no where near $40 for a very long time.

Refer to the Post #: 56941126, FLT's $40 Share price pre covid is same as the current $22.4 share price. See the table below, FLT had 112m shares on issue pre-covid, now they have 199.55m shares. The additional shares were issues towards capital rases to continue operations while the company was not making any money, atually was losing it. That is an increase of 78% in shares and dilution by 44%. So approx $17.6 eroded per share, which means Pre covid $40 = $22.4 now.

Flight centre in their last report have clearly said that the expect the revenue to return to pre-covid level at least until Jun 2024. That is almost 3 years before it should be $22 unless they can project significant growth and meet their targets early.

The pace it is going down at, I think $16 is not far. I will buy some when it gets to $16.. and load up if it gets to $14.

It is also pretty clear that FLT will not be in a position to pay dividends for couple of years.. so no real returns for people who bought above $22.. all IMHO.

DYOR!