Spirit Airlines Stock Is Now Cheaper Than Ever
Shares of Spirit Airlines (NYSE: SAVE) plummeted 24% on the day after the fast-growing budget carrier reported its second-quarter results in late July. As I described at the time, this was an overreaction to the company's poor Q3 guidance. While Spirit's profit margin is set to contract this quarter, most of the damage can be traced to short-term cost headwinds and easily addressed tactical missteps.
In the roughly two weeks since the earnings report, Spirit Airlines stock has fallen even further, as part of a broader market sell-off sparked primarily by trade war fears. This has made the stock even more attractive for long-term investors.
Source Fool.com
