Originally Posted by
Xbone
Allegiant Travel (NASDAQ:ALGT) discloses that it purchased 200K shares from CEO Maury Gallagher as part of its buyback program.
The sales price was $126.20 per share.
Nobody is surprised mg is a no show. I’m sure we know what the hotline tomorrow will report; No change in the stalling, non-negotiating tactic’s by the company. What’s really annoying is the amount of stock options these two have cashed in recently; Mega-millions. At the same time, some of the more contentious parts of the contract are now being approached. While the company pleads were too poor for your proposals. The timing shows an utter lack of respect
Ya gotta hand it to these guys, they've managed to con stakeholders, analysts and employees into believing this scrap-heap is worth $2B. That's right, 'B' as in
Billion. Hey, don't build an airline when you can build a fortune, right? Through bait 'n switch and stage props, Allegiant execs have managed to fool Wall Street into believing Allegiant was actually a long term 'going concern'. ALGT owns practically nothing worth value. Crappy old airplanes are being leased back, worthless routes/gates,...zip.
Spreadsheets and quarterly earnings statements don't tell the truth and cause analysts to miss the subtle details like FAA mandated training shutdowns, engine failures (>30), labor unrest (3 unions in 2 years), unsustainable turnover, massive outsourcing of flying and cancellations, etc. Taking away all the smoke and mirrors, one would logically conclude this stage show is in trouble. But like a market bubble, hype and hysteria can drive a stock to ludicrous levels, only to watch it suddenly plummet the minute the scheme is up. By the time the music stops, the snake oil salesmen have packed their wagon and left town.