In terms of cash flow, this is a lesson for CAJ about having cash on hand for a rainy day. What has stung them is spending cash on buybacks, and they were also unlucky with the Fowler Simmons purchase just before covid19, although this was only 16M and would not have precluded the CR.
Just like Boeing style, buying back shares, then require a bailout. Admittedly covid19 is a 'black swan', but there are some companies out there with thumping balance sheets who need no CR or loans for a few months and probably longer. Buybacks are great, but without any savings, or alternate revenue streams, clearly there's a risk.
CAJ Price at posting:
19.5¢ Sentiment: None Disclosure: Not Held
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