Deep Sail Capital
Founder & CIO of Deep Sail Capital, Long/Short GARP, Quality/Growth/Micro-Caps
Airlines' fuel-driven fare hikes are finally cracking consumer demand. TSA checkpoint traffic is firmly negative year over year, while the airline ETF is breaking down. x.comÂ
US stocks could rally into the close as the House passes the Senate's deal, ending the chaos at airports and getting the Coast Guard, TSA and other workers paid. x.comÂ
Clear Secure could be printing money while TSA is unfunded, as security lines this week were packed with angry travelers, and Clear likely also earns fees from PreCheck enrollment. Its terrible engagement on X is probably as good a buy signal as investors will get. x.comÂ
Long airport wait times seem to have driven a lot of Clear Secure signups in 2026. Its revenue and EPS have improved a lot over the last four years, and it is a high-gross-margin business. The setup has the feel of Sphere Entertainment's breakout from a multi-year base at $60. x.comÂ
Clear Secure's bookings and margins are accelerating together. Q2 bookings rose 33% to $295.9M, and the adjusted EBITDA margin hit a record 36.4%, the first time above its 35% IPO target. x.comÂ