Trainline Share Price (TRN)

Very odd maybe a short squeeze going on price increase very rapid. My company talking about home working til october so not sure where this increased business will come? Big loss this financial year you would imagine yet 2.5 billion mcap ...

EBIT for y/e 29 Feb 20 was £2m, so EV/EBIT is > 1,000x and they will lose money this year. 2m social distancing will restrict capacity on UK trains to 15% of “normal” and even when that is lifted, people will be reluctant to use trains again in a hurry as the whole process has become so user hostile. Train operators are reporting that despite extra trains running this week passenger numbers are broadly similar to last week. Recovery to anything like normal will be a long hard slog. I also question the sustainability of the role of a third party owned ticketing portal in a (currently) re-nationalised rail industry where the industry can now pool its resources to build and operate its own website for booking direct, like the user friendly Swiss Railway SBB App for instance, and I’m sure tried and trusted software developed elsewhere is a bigger longer term competitive threat than those buying the shares at 496p think.

And up again, who is there right mind is buying a company whos revenue is going to be massively effected for 12 months, nothing for 4 months and massively reduced going forward.

Exactly whos going to be buying at these levels, absolute crazy, its only going way 1 and thats down from these levels. You only have to look at the wider travel market but this fella has bucked the trend, and its had the same levels of disruption and will have lost millions and will continue to do so.

Would be interested who is buying this, over 2.1 billion MCAP. Its already been announced the lenders have waived the covenant on the net debt position so it can surpass 3.75x adj. EBITDA which is not a positive. Can't see this back to normal for a long time.