Whats happening with CJT

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CargoJet (CJT on TSX) just took a dive, do you know why? That stock has doubled since I looked at it back in may and didn’t buy because I thought it was rebounding so quickly it was surely in the overvalued range. Boy was I wrong. In any case, I’ve been tracking it, just curious as the price plunge is steep.

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Asked on November 13, 2020 9:13 pm
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Private answer

The company is going to benefit immensely from shipping volumes due to COVID-19.

I actually have a friend that works for Cargojet, and he says they are busier than they've ever been. They've hired him as someone who exclusively manages Amazon shipments. That's how big they're becoming.

However, with news of a vaccine, I believe that's why the stock took a dive. Investors sold out of COVID based stocks and into financials, oil etc. If we see another shutdown, we could see another shift back into COVID beneficial stocks.

However, this is never guaranteed. Because now that investors know the vaccine IS coming, they may not venture back in.

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Posted by Dan Kent
Answered on November 14, 2020 9:45 am
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