Why Wyndham Destinations Is Rallying This Morning
Hotel, vacation, and timeshare company Wyndham Destinations (NYSE: WYND) shares are trading up more than 2.5% this morning following a Current Report filing with the SEC and a new investor presentation. The presentation, published today on Wyndham's investor site, shows potentially higher than expected EBITDA for the second quarter of 2020, ample cash reserves, and other positive indications of weathering COVID-19.
Wyndham revealed it currently has $1 billion of unrestricted cash available, with a $342 million credit facility. At the cash burn rate it's currently experiencing, the company claims it can continue operations for 23 months even assuming no positive change in cash flow.
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Source Fool.com
