CPA - Copa Shut Down For Now But Offers Upside On The Eventual Rebound
Even in the context of the dire and uncertain circumstances created by COVID-19, I thought Copa (CPA) was too cheap back in May, and the shares have since jumped more than 40%. Although Copa has seen a slower/longer path back to resuming operations, the company's cost-reduction/cash-preservation steps are working and management is being responsible with respect to capital and the company's long-term future.
Obviously, there are still significant operational uncertainties here - the primary one being whether the government of Panama will open the country and allow the company to restart operations