Common knowledge agoolisa that both WEB and FLT are in the top 3 shorted stocks and have been for quiet a period - welcome to the party.
It is common knowledge why and it isn't Australian travel restrictions you reference. It is because the "global" travel travel industry is interrupted and has been for some time - that we all know and shorters take advantage of industries in sectors that are in uncertain business fundamentals and negative cash flow (take a look at BNPL stocks) - but guess what - that always changes over time. In the case of WEBJET - that will arrive sooner than later as being a global industry leader and one of the largest global travel stocks in which a very large portion of business is in the webbeds field and with the largest countries (not little Australia although it all helps) of WEBJET core business opening up due to their vaccine roll outs - WEBJET will turn around in coming 12 months and the shorts will drop off. In buying in the past since the lows of $2 to present - one is doing what the big end investing does - markets look forward - as we clearly see a path forward now for the first time since pandemic with amazing people doing even more amazing things in developing vaccines and in the case of the largest economies of the world rolling them out - well - it will take time of course however the global travel industry is turning the corner. I would suggest you have missed the shorting party - time is expiring - infact todays buying is opportunity - last week $5.30 or there abouts and a lockdown in Australia that can not get its act together drops sp 10% lol - now Scomo wants babies - anyone to have the Astra Zenaca against top health officials advisory so desperate is he to catch up with ROW and their rapid roll outs and stop the economical impact this is causing our country.
Anyway best you research WEBJET a little more and their core business and where the majority of that is derived from. Think global - not local - there is a whole massive populous out there for which Australian travel is only a small but important part.
WEB Price at posting:
$4.74 Sentiment: None Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)