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- Whitney Tilson, founder and Managing Partner of Kase Capital Management, recently disclosed a new stake in Spirit Airlines Incorporated (NASDAQ: SAVE).
- To better understand how the company where he put his money down works, he decided to travel in its planes this week. On Thursday, he published an article on SeekingAlpha sharing his experience and impressions.
- While many customers (more than usual) complain about the airline, Tilson assured he “had a great experience and didn’t observe any customer service problems on either flight.”
Given Spirit Airlines’ well-known customer service problems, Tilson feared the worst when he was about to board his first Spirit flight on Tuesday. However, he assured in a recent SeekingAlpha article, he was “very, very pleasantly surprised by every aspect” of his experience. Moreover, his impression was that the other passengers (about 300) in his two flights had similar experiences.
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Related Link: Whitney Tilson Names Spirit Airlines Favorite Long Idea, Wayfair Top Short
Of course, investors should notice this was just one anecdote –“and the plural of anecdote isn't data,” he explained somewhat joking. However, what Tilson observed overall (“in particular, the customers Spirit serves, how it's handling potential areas of customer dissatisfaction, and how it both generates extra revenues and keeps costs low”) make him increasingly bullish on the future of Spirit Airlines. Furthermore, he continued, even though the stock gained roughly 20 percent since his first article was published three weeks ago (see link above), the shares remain “exceptionally cheap at ~10x earnings.”
Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.