RE:Good News ,air canadaAir Canada has always been a great rise and fall stock which attracts traders. It's not a particularly stable or secure stock and some would argue that adding a dividend to it even at a measely 1%, would offer more stability than a share buyback in terms of the time of investors it would attract.
In my eyes many investors were hoping for a Q2 blow out sort of like how Q1 was and part of that was evident in the days leading up to earnings. What's funny is AC specifically said in Q1 guidance not to expect Q2 to be anywhere near as strong as Q1 because a lot of factors went into play there. However, they are saying that Q3 should be particularly strong and for those who intend to hold that long should be rewarded.
I don't think we're as down as most people would think today based on the market conditions and usually the investors that do their DD end up jumping on board a few days after these releases which may come in time when shorts decide to cover. For today, it's the emotional investors + shorts running the show.
I'm sure it doesn't help that everyone is focusing on analyst price targets or parading +$17 share prices. Almost everyone thinks their stock is undervalued and in some lengths stubbornly fall in love with it.