This stock was pumped up on post covid hype. The surge in pent up travel is fading fast. Cost of living pressures in the West are cutting the money available for discretionary spending including travel. Consider this the post covid crash which may take some time to play out. These companies will need to adjust their business models so they can be profitable and grow in the new paradigm. Looks like FLT is a long way from the bottom and will continue to decline after this initial 20% drop as is usually the case in these type of situations. For sure there will be dead cat bounces so buyer beware.
FLT Price at posting:
$17.20 Sentiment: Hold Disclosure: Held
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