Covid-19 dying, flights will resume sooner than expected, page-206

The institutional imperative is keeping the SP where it is. Fund managers with billions that make up 85% of the market won't invest in a risky stock like WEB. But once the pandemic dies down the institutions will jump back in which will result in higher SP.
Individual retail investors like us won't even put a dent on the SP. As long as you know the intrinsic value of the business what's there to be scared of? The management team made a wise IMO to cap raise seeing the uncertainty for the year ahead otherwise WEB would go BK. They did cap raise to strengthen the balance sheet but I would be pissed off they they used the funds to pay off their $200M long term debt...then I would think the management is incapable. Debtjet is a good name but only if they're swimming in it. As far as I can tell if they return to normal which is years away, they can pay that off under 4 years of earnings which I am comfortable with as an investor.