Neil Freiman
๐ค SpeakerAppearances Over Time
Podcast Appearances
I won the pre-show hopscotch competition, so I get to go first.
And my Stock of the Week is clear because when chaos reigns at airports, clear is the beneficiary.
Shares in the company have jumped more than 60% over the last month and are up 13% this week alone as more travelers buy memberships to avoid dystopian security lines at TSA checkpoints.
For more than 40 days now, the Department of Homeland Security has not been funded, leading TSA agents to call out of work because they're not being paid.
This airport mayhem has been a huge windfall for Clear's aviation business, which whisks travelers through security using biometric scans, a service it offers for more than $200 per year.
Since the beginning of March, passengers have downloaded the Clear app 289,000 times, triple the number from a year ago, according to the Wall Street Journal.
Not a few of them are signing up for Clear on the spot in the terminal, anxious that they'll miss their flight if they continue to languish in the standard line.
While Clear's airport service still brings in most of the company's revenue,
Investors are also excited by Clear's expansion into new areas, like its ID verification platform for businesses that brought in record bookings last quarter.
It's also making a big push into healthcare, striking a couple of deals with health companies to streamline patient check-ins.
Toby, Clear's pitch is indeed crystal clear.
Pay us and you'll wait less.
And it's pretty compelling in this age of long lines everywhere.
Yeah, and they're not the only company that's doing well during these chaotic times at airports.
Rental car companies are absolutely crushing it right now.
Hertz stock rose 8.6% on Thursday.
Avis had its biggest one-day gain since June, up 17%.
So people are turning to rental cars instead of wanting to wait in line at these airports.
It looks like, I do have some good news, it looks like this national nightmare might be coming to an end and perhaps this clear stock rally...
As well, overnight, Senate Republicans, Democrats agreed to fund most of the Department of Homeland Security, including TSA.