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Why JetBlue Rallied Today

TheMotleyFool 
0 0 13.11.24
Why JetBlue Rallied TodayPhoto, wide shot, wide-angle lens, Logistics company, Midday, harsh overhead sunlight, directional sunlightt, photo by Thomas Heaton: https://img.midjourneyapi.xyz/temp/a16a79c7-f73c-405d-ba63-e8d69b66ce4e.png
 

Shares of (NASDAQ: JBLU) rallied on Wednesday, up 12.4% as of 2 p.m. ET.

The airline appears to be benefiting from news that a big rival, which JetBlue actually tried to acquire last year, may go bankrupt. A bankruptcy of a key competitor has the potential to benefit other airlines, especially smaller ones like JetBlue.

Today, The Wall Street Journal reported that rival low-cost carrier Spirit Airlines intends to file for bankruptcy protection, after negotiations for a merger with Frontier Airlines broke down. Additionally, Spirit said it would delay the filing of its quarterly report last night, and that it was in discussions with its bondholders for notes maturing in 2025 and 2026 about restructuring.

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Source Fool.com

Jetblue Airways Corp. Stock

€5.40
3.370%
A very strong showing by Jetblue Airways Corp. today, with an increase of €0.18 (3.370%) compared to yesterday's price.
Our community is currently low on Jetblue Airways Corp. with 3 Buy predictions and 12 Sell predictions.
A potential of -44.44%, resulting from comparing the current price of 5.4 € with the target price of 3 € for Jetblue Airways Corp., shows the chance of incurring significant losses.
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