GAPFF - Time To Grab My Pitchfork (Aimia Edition)
I have written about Aimia (GAPFF) (AIM - Canada) a few times now (article 1, article 2, article 3). For a summary, AIM operates loyalty programs which are highly cash generative. The shares have collapsed following Air Canada (ACDVF) notifying AIM that they will not continue their partnership when it ends in 2020. I figure AIM is worth somewhere north of $6 per share if you assume that Aeroplan ceases to exist in 2020 and likely double digits if you think there is a future for this program (which I do).