+ Watch OWW
on My Watchlist
An online travel company, which uses technology to enable leisure and business travelers to research, plan and book travel products.
Great news that Orbitz Worldwide, Inc won their court case against American Airlines. I just don't believe it was 33%, or $100 Million in Market cap good news. Orbitz stiff competition, negative margins, and reduced income are not going to go away. Debt, receivables, and accounts payable and a negative $600 Million in net tangibles need more help than getting American listings is going to provide especially after the $50 Million in new stock issued last year. Granted the 9% short interest will need to bleed through, but after that I expect Orbitz will return to a downward trajectory.
I closed this one for 22 very quick points about 10 days after opening it. I guess no one rec'd another down pitch. I see orbit jumped 30% very late today (3.28) on news they partnered with Virgin Australia....I don't see that as a 30% adder either....my downthumb is ready, but I'll hold it until I see where the sentiment is heading....large up days sometimes oscilate as shorts cover......
Back down again at $4.27 today on this spike. Let's see if my short cover timing is better on this one...it's been a little off lately.
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