Is Spirit Airlines Stock a Buy?
It's been a turbulent time for Spirit Airlines (NYSE: SAVE) investors. Shares have tanked 78% just this year versus an 11% gain in the S 500(as of May 29).
With this airline stock down so much, some investors might be seeing an opportunity to scoop up shares on the low, with the hope that outsize returns can be achieved over the long haul. Is Spirit worth buying right now?
Shareholders were not happy when called off its proposed merger with Spirit in March after a federal judge blocked the deal. The hope was that this transaction would create a more powerful low-cost airline in the U.S. Without a suitor, Spirit's financial woes are in the spotlight. As the stock price drop indicates, this is a struggling enterprise.
Source Fool.com
