Not sure which part is nonsense. Ill check the numbers again but Im pretty certain that the number of shares on issue divided by the pre-COVID market cap = $4.
Im not saying it doesnt make sense to go punting travel shares. Traders push shares all over the place based on the shape of the chart and recent news flow. Give it a double-bottom, an inverse head-and-shoulders and two diverging trendlines between four other random points on the chart and it will rally well beyond the underlying value in both directions.
Im guilty of punting on the COVID recovery myself. I have a ton of URW based mainly on the foot traffic reports pre and post lockdowns in Europe. I might be completely wrong. Plenty of highly trainined REIT analysts hold the opposite view.
CHARTS..., page-117
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Last
$8.74 |
Change
0.035(0.40%) |
Mkt cap ! $3.418B | |||
| Open | High | Low | Value | Volume |
| $8.75 | $8.78 | $8.70 | $1.310M | 150.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 21 | 2141 | $8.73 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $8.74 | 6076 | 21 |
View Market Depth
| Last trade - 12.06pm 31/07/2024 (20 minute delay) ? |
| WEB (ASX) Chart |