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Never thought I'd hear myself say this, but Savage has a point. The only thing he's missing is that it won't plummet because all eyes are now on the valuation of the company which is higher than 3.50. Yes there could be a shock wave and drop but closer to the low end of the 4s.

That said - and I've maintained the same argument as Savage about the "highly opportunistic" approach which can dissipate quickly if it gets too expensive. But the bid has drawn several fish out of the water who would consider joining. It is this which will keep momentum alive. I think much number crunching and conversations are being had as we speak and a bid of high 5 low 6 (as I've posted before) will come in. The price will shoot up near there - but EZJ will reject and ultimately it will fall back until fundamentals catch up (a year or 2 or 3). Sad thing is - we once touched £5.90 a few years ago. So, sitting for 2.5 years for same end result.

Still, I find management a little apathetic to shareholders and this is making them sweat. Good!

There was a cross of 500K 20 minutes before close on tier 2. Someone dumped (or shorted?). Unfortunately normal on a speculative play. And let's not forget the day traders.

Lots sold into the close. Classic MM manipulation. Hope y'all don't get burnt - especially those in just for the bid.

Lots sold into the close. Classic MM manipulation. Hope y'all don't get burnt - especially those in just for the bid.

If Iran still an issue end of the month EZJ will be struggling (like other airlines) and a bid will be made. If war is truly over, no bid and they walk.

That's the meaning of "highly opportunistic."

Then it's a matter of fundamentals. A bid would be in the high 5 maybe very low 6 region. (Which would be rejected). Fundamentals have this fall back to 4 50 and hover for months.

Some but not a lot of money to be made here. Fingers on the trigger boys.

(And I've been long 3 years).

In my opinion it makes the potential bidder more determined because EZJ is going to ensure more pain as a result.

I do reckon there'll be much chatter in the weekend media.

Let's remember that Wizzair offered £7+ during the covid fiasco and was rejected (though I don't recall if that was before share dilution).

There are day traders and profit taking at week end. So yes it'll rise higher but settle there. Next week will be BIG.

I won't say I told you so

Subject to geopolitics.

Next week we hear more and this crosses 5. This time it's for real. Enjoy the ride.

Love it when MM get caught on the hop. And shorts getting screwed.

Here is the story in one paragraph, made as plain as possible:

EasyJet is a structurally sound, cash-positive business with a growing holidays division and 90% load factors, whose share price has been punished by a geopolitical event, the Hormuz blockade, that prediction markets overwhelmingly believe will resolve within six months. Against that backdrop, a well-capitalised aviation specialist has publicly confirmed it is considering a takeover at current depressed prices. The UK Takeover Code gives us a hard deadline of 26 June to find out if this is real.

The risk is that Castlelake walks, Hormuz doesn’t resolve in time for summer, and the H1 loss of £552 million becomes an FY loss. The opportunity is that you own a mispriced travel platform at the moment the headwind reverses.

That is the bet.

Bank of America analysts said Castlelake's strategic plan was unclear, but the airline's fleet could be of interest. They estimated a takeover ‌at a price of £6.50 per easyJet share.

The shorter (been one on numerous US tech shares. Made far more on short than long) is taking a high risk high reward strategy. Ordinarily you have to have half the value of what your selling at in the account (to cover in the event of) but if you sell at 4 and they suddenly announce a takeover bid at 8 you're up the creek without a paddle.

Some shorters who will call this the bottom. Hence uptick which will squeeze out more shorter. The rest will depend on analysts.

Got to love it. It's all in your posts. We see you :-)

THE GOOD NEWS: Despite conflict in the Middle East creating near?term uncertainty, easyJet is well placed to manage the current environment, supported by one of the strongest investment?grade balance sheets in European aviation.

THE BAD NEWS: We continue to see positive late bookings since the conflict began, however overall bookings for the summer period are behind where they were at this point last year.

THE UGLY: The %!@!& MM will probably take this down. They always jump on any negative.  I expect some upgrades but that won't dent it.

It has nothing to do with fundamentals. The sp has lagged and they don't see it going anywhere soon. No point "holding" - their previous position.

Other airlines down. A few downgrades. And we're moving strong. I think rumours of past are going to materialise into something more.