WESTJET STOCKS
WESTJET STOCKS
Why is WestJet (WJA-Toronto) rising so fast???
I've been watching this stock for a while now and it appears to have broken out of its trading range. I expected it to move higher, but the rate of the climb has even surprised me. Someone mentioned that it has caught the attention of the big brokerage houses and mutual funds. It's in the mid $13 range now, most people I've talked to suggest it's fair value is in the low $20's.
Why the breakout??????
There has been a lot of emphasis on WestJet in the press and in public view.
They have increased their advertisement - and their ads, which are quite funny - are definitely making more people aware of this company.
They have started WestJetVacations.com - following the footsteps of AirCanadaVacations.com. They currently have promotional campaign on ChumFm 104.5 here in Toronto offering free trips to Disneyland through WestJetVacations.
It also didn't hurt that CanJet closed their commercial flights and is only doing charters now. Not that they were really a big threat to WestJet, but the unexpected bump in market share helped the price of shares.
They have revealed they are filling more seats on average this year v prior year (appx 75% v 73%)
Anyway, going back to the exposure in the press. Their "customer care" is always highly rated, and they tout their approach as a more caring airline both through their ads and through the emphasis on their CEO, who is supposedely very hands on and involved.
They have also been ranked as one of the best brands in Canada in a recent survey. While Air Canada was ranked as one of the worst.
Yea, things are looking bright for WestJet!!!
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