TGL WHAAAAAAAT! Alerts, thoughts, discussion. Message Board

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Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion.

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To: vds4 who wrote (96472)	11/19/2001 4:18:41 PM
From: Jim Bishop	Read Replies (2) of 150070

Damn near sold today, but it was too strong, you're right though, gravity could kick in anytime. Air Canada shares gain on Canada 3000 demise TORONTO, Nov 19 (Reuters) - Air Canada (Toronto:AC.TO - news) shares took flight on Monday while some analysts speculated the collapse of rival Canada 3000 (Toronto:CCC.TO - news) could be permanent and ultimately minimize the competition. Shares of the country's dominant airline and world No. 10 were up 70 Canadian cents, or 15 percent, at C$5.18 on a volume of 2.2 million shares. The shares are still slightly off their closing price of C$6.40 just before the attacks on the United States by hijacked airliners. ``Chances are less that Canada 3000 will resume operations and it leaves two players in the marketplace,'' said Fred Larkin of HSBC Securities Inc. referring to Air Canada and discount carrier WestJet Airlines Ltd. (Toronto:WJA.TO - news). Canada 3000, the country's second largest scheduled carrier, was unable to recover from the near halving of passenger bookings after the Sept. 11 attacks. The airline filed for court protection from creditors on Nov. 8 and stopped all flights the next day. ``I'm certain that Canada 3000 being grounded has added an extra bit of (strength) to Air Canada shares relative to other airlines,'' said Glenn Engel of Goldman Sachs. Engel also said he thought airline bookings and travelers' psyches had held up better than expected after an American Airlines plane crashed in New York shortly after takeoff on Nov. 12. Analysts also pointed to optimism in the U.S.-led war in Afghanistan and a reduction in fuel prices as factors breathing new life into airline stocks. Shares of WestJet were 15 Canadian cents, or 0.7 percent, at C$20.10. on Monday afternoon. ($1 equals $1.59 Canadian)

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