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Comment on MyTravel, by Jeremy Skidmore
You just can’t get away from it – the talk throughout the industry is still all about the future of MyTravel.
Some retailers, mainly those that sell a high proportion of the operator’s products, have attacked the negativity and gossip in the industry.
Oh come on! When Airtours, as it was a few years ago, was the cock of the north, it was the most arrogant company in the industry. Small wonder people have now got the knife out for them.
And let’s be honest. The best thing that could happen to other big three players is the collapse of MyTravel. They would benefit in the same way that Airtours did when ILG collapsed in 1991.
Interestingly, lots of people have been piling in and buying MyTravel shares by the bucket-load. They reason that the company is still profitable and therefore the current share price is ridiculously low. Somebody is bound to come in and make a bid, sending the price soaring, aren’t they?
Of course it’s not that simple. It could happen, but other scenarios are quite possible, as anyone who has been following the numerous newspaper reports will know.
You need nerves of steel to buy MyTravel shares just now. Anyone who thinks it’s a sure way to make quick money is misguided. If that was the case, everyone would be buying the company’s shares and that isn’t happening.
And if you feel like a punt, take the views of analysts with a pinch of salt. A few years ago, with the share price at 545p, many were predicting it would go to £7. Analysts are fantastic at explaining the past – but not so good at predicting the future.
Buying shares is just upper class gambling. Don’t bet what you can’t afford to lose!
Best wishes
Jeremy Skidmore
[email protected]
23-10-2002 Comment on the ABTA Convention, by Jeremy Skidmore
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