Is Spirit Airlines Stock a Buy?
It's been a wild few days for Spirit Airlines (NYSE: SAVE) stock. Last week, a federal judge blocked its proposed merger with JetBlue Airways (NASDAQ: JBLU) due to concerns over potential price increases from the latter. Spirit's stock fell 50% on the news, putting shares down over 90% over the past 10 years, significantly underperforming the broad market indices over that time span.
Now, in the last few days, Spirit's stock has started to rise again. After hitting a low of roughly $4.30, the stock is now at $7.77 as I write. It is unclear exactly why. It could be because of the two airlines filing an appeal to put the merger through, traders looking to buy the dip on a bombed-out stock, or short-sellers covering their positions. Maybe a mix of all.
Whatever the reason, there are a lot of people asking themselves whether they should join the party and buy some Spirit Airlines stock right now.
Source Fool.com
Jetblue Airways Corp. Stock
The sentiment is rather negative at the moment with 12 Sell predictions and 2 Buy predictions.
A potential of -38.52%, resulting from comparing the current price of 4.88 € with the target price of 3 € for Jetblue Airways Corp., shows the chance of incurring significant losses.
