Why this battered FTSE 250 share interests me right now

first_img FTSE 250 constituent easyJet (LSE:EZJ) has seen two major developments in recent days and weeks. As a result, I’m wondering whether EZJ is a worthy investment candidate today.Make no mistake, easyJet is under heavy pressure. With government travel restrictions in place and ever changing, travel operators have seen operations affected. 5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…FTSE 250 stalwartThe low-cost airline group covers over 1,000 routes across Europe and beyond, but has seen its usual level of demand decimated due to the pandemic. The first interesting development is that of a substantial insider share purchase. According to a filing by EZJ on 4 August, deputy chairman Charles Gurassa purchased over 90,000 shares at a price just over 550p per share. This equates to almost £500,000 in total. Gurassa is a seasoned travel sector insider who’s seen the industry during good times and bad. Prior to his current role with EZJ, he served as CEO of Thomson Travel Group. Gurassa also had stints at TUI Northern Europe and British Airways. A substantial trade by such an insider suggests confidence in EZJ’s investment viability moving forward.And the second development? Well, I wasn’t surprised when the firm said it would be closing three of its bases in the UK. This would result in the loss of close to 700 jobs as the pandemic continues to squeeze the travel industry. Back in May, EZJ had already said it would need to axe 4,500 jobs across Europe to prepare for a smaller travel market.Recent performanceWhen the market crashed and the FTSE was decimated, EZJ lost close to 70% of its value. Its share price tumbled from over 1,550p per share, down to its lowest point of 475p. EZJ is currently trading at close to 550p, which is still very low. I feel this cheap price could be viewed as an opportunity.Back at the beginning of August EZJ released a Q3 trading update. Although the figures weren’t expected to make great reading, for me they were even worse. It confirmed that the number of flights, aircrafts in operation and passengers flown were down by over 96% compared to the same period last year. Revenue was down by over 99% compared to the same period too. The only silver lining I saw in the update was the massively reduced costs as most of EZJ’s fleet was grounded.There’s a huge amount of uncertainty associated with Covid-19 and UK shares, and the travel industry has been one of the hardest hit. But these recent developments at EZJ tell contradictory stories: weak results and a director confident enough to commit substantial cash to a bet that the firm can bounce back. easyJet is a share I’m interested in as people will be itching to get away on holiday in the months and years ahead.VerdictThat being said, I wouldn’t rush to buy the shares just yet. Although EZJ’s share price is dirt-cheap in my opinion, the travel sector represents too much of a risk. Will customer demand ever reach pre-Covid levels? The fact that fuel costs are rising doesn’t help matters either. There are better FTSE shares out there in my opinion. I always point towards stocks with defensive qualities during a market crash. Unfortunately in the current market downturn, EZJ lacks these qualities, in my opinion.  Why this battered FTSE 250 share interests me right now Our 6 ‘Best Buys Now’ Shares Jabran Khan | Tuesday, 18th August, 2020 | More on: EZJ Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! Jabran Khan has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.center_img “This Stock Could Be Like Buying Amazon in 1997” I would like to receive emails from you about product information and offers from The Fool and its business partners. 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