Forget about the share price for a moment. The stock market...

Forget about the share price for a moment. The stock market remains in an epic bubble and is currently ripping on a bear market rally before taking another hit soon.

Think about the business. It sold everyhing that it could during the pandemic and has a NEGATIVE book value on its balance sheet. It's postponed all forms of capex, which is why its airplanes are old and look like crap and their service quality is falling apart, damaging the brand while its at it. Interest rates are going up from here, and Qantas will eventually need to borrow significant money to buy new planes and fix their old ones.

I'm curious to hear why this is a good investment proposition if anybody has any insight becaue, as it stands, I just see FOMO on another stock market bubble. Parallel this with the cypto space where the same recovery is happening, even though there is no fundatmental basis to it. It's no different.