I believe many thought it was a simple retail sell flights company via website and they figures economic downturn, google competition and more savvy consumers would result in a crunch on WEB - we did see all of this on Expedia and TRIP in the states - but the shorters may not realise WEB is now a back end software booking system used by other travel agencies earning recurring revenue with the systems in place to generate margins.
TC also did not harm them like the shorters may have thought and the robustness of the business is shwoing through with strong Asia Pacific growth only just starting to come through. I am shocked anyone would still be sitting short but they are probably holding out home to regain losses but they may drop away very soon if we keep rising!! Shorters may have tried hard to depress the price after it his $13.80 a couple weeks back but if we get serious insto inflow they will get burnt off once and for all very soon.
WEB Price at posting:
$13.06 Sentiment: Buy Disclosure: Held
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