Chorus Aviation Inc (CHR) Noticias

not cheer holding board,this is some tsx Canadian garbage

Looking for $5.+ this week. Maybe an eventual bidding war between Fairfax Financial and Air Canada??

Still profitable despite COVID-19:

https://www.newswire.ca/news-releases/chorus-aviation-announces-second-quarter-2020-financial-results-and-market-update-881329593.html

"Recent Highlights

Net income of $29.2 million, or $0.18 per basic share; a period-over-period decrease of $9.7 million due to the global economic impact of COVID-19 on its results, partially offset by a change in unrealized foreign exchange of $6.3 million.
Adjusted net income1 of $21.6 million, or $0.13 per basic share; a decrease of $2.5 million quarter-over-quarter due to the economic impact of COVID-19 noted above.
Adjusted EBITDA1 of $91.0 million; an increase of $5.3 million over second quarter 2019 primarily generated by the growth in aircraft leasing.
Liquidity, inclusive of available credit, was $189.0 million as at June 30, 2020.
Aircraft transactions completed post the second quarter further increased liquidity by $39.0 million, bringing total liquidity to $228.0 million.
Third-party leasing revenue collected in July grew to 38%, up from approximately 28% in June 2020."

"Interestingly, Chorus has fared relatively better compared to peers. It has reported an adjusted net income of $45 million in the first half of 2020. However, that could not improve its stock price, and its shares have lost more than 65% year to date. In comparison, Air Canada stock has also lost approximately 65% so far this year." Was/Is CHR oversold??

https://www.fool.ca/2020/09/11/after-air-canada-and-chorus-transat-at-demands-federal-support/

Up 34% to $3.18 on takeover offer and big volume. Was halted once already on Friday.

https://www.richmond-news.com/chorus-aviation-shares-surge-34-per-cent-after-confirming-takeover-proposal-1.24226231

"Walter Spracklin of RBC Dominion Securities Inc. said he's not surprised that Chorus is a takeover target because of its unique business model and resilient cash flow streams from the fixed-fee nature of revenues.
Spracklin suspects the interested party is likely a Canadian-domiciled financial sponsor rather than a strategic buyer given the weakened state of the global airline industry and foreign ownership restrictions.
This report by The Canadian Press was first published Oct. 23, 2020.
Companies in this story: (TSX:CHR)"

Why CHR is constantly going down. Any bad news coming in?