Yes their last quarter was good, prior to that they were constantly losing money.  Not to mention the fact that the the stock price has tripled in the last 8 months.  So of course investors are going to take their profits out, I sold my position the other day at 2.49, not because I think Air Canada will disappear tomorrow, but because I see it going back down to below 2 dollars in a few weeks unless Q4's  numbers are amazing.