I like this company...
Boy, you can't find many companies with ramping revenue, pure insider buys on the open market with no insider sales, high book value, low price-to-sales, and an Internet strategy. I can't figure out how a crap company like BAMM can go from 2 to 60 by just announcing plans for the internet, but FLYR has actual Internet sales and a growing core business (As an aside on BAMM: book sales, as some of you may know, are just growing 2% a year). But I thank God for market inefficiencies like this. I also believe the airline ticket market to be bigger in nominal terms than the book business.
The only negative I see is the long term debt (41% of assets) and the weak current ratio. The roll-up strategy is costly, and the market has taken a dim view of roll up companies (when 2 years ago, these were the hot thing). But if FLYR can achieve bigger economies of scale, they can pay that debt down quickly. Shit, AMZN has negative shareholder value, so what is the big deal?
Is there some major negative I am missing? What is the bear case?
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