In fact, I will go further and say the stock has NEVER, EVER been so cheap on a valuation basis. It is my opinion that this is quite possibly the very last chance to buy these stocks before they make a march into the triple digits and stay there for many years. Don't believe me? Well, UAL, AAL and DAL were all over $100 in the 90s....in fact, UAL was $200+ at one point with half the EPS it has now. AAL has $100+ written all over it if you can just ignore these idiot analysts and hedgefunds for a year or two. Just buy here or slightly lower and take a look a couple years ago.
It's different this time. Why? For one, the commodity supercycle is over and occurs 10 out of every 30 years. We have 10-20 years of cheap oil ahead....
I told a client of mine in 2007 ALK would earn $20/share ($10 now adjusted for splits) within 5-10 years....it's happenin' people! AAL will earn $10-15/share for many years to come, quite possibly more.
As far as I know, the 8,000,000 share buy made by Janus is a new holding. That's a pretty nice bet. I myself predicted $1s months ago but began buying today @ $1.91....could go lower, maybe even BK, but not likely ahead of the olympics....likely a chance to double $$ here in 6 months or so.