I shorted WEB - have nothing against the business except the valuation, and will be keen to long WEB on good news if the SP retraces.
FLT and HLO have soared as well as WEB on the news that Frydie is considering tourism a special case for extending relief measures.
However the main support is jobkeeper and arrangements for rent to be reduced in line with revenues. FLT and HLO really benefit significantly from that as they have lots of stores. But WEB does not benefit anywhere near as much. (Ideally you would long FLT and HLO on that news, great to short WEB on market getting carried away).
Keen to hear if I am missing something. Wouldn't be the first time!
WEB Price at posting:
$4.33 Sentiment: Sell Disclosure: Held
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