Bharper

Debt-to-Equity Ratio as Fishing Lure

Uh....yeah, in an improving macro environment levered companies do better, just as they got crushed when the economy was deteriorating. This isn't a profound revelation, it's what happens during cycles. Avis fell from $30 in mid 2007 to under a dollar. They have over $6 billion in annual revenue, so they could in fact make it and yes could be a 20 bagger. But of course such plays are very risky.