Why JetBlue Stock Is Taking Off Today
Activist investor Carl Icahn has amassed a 9.91% stake in JetBlue Airways (NASDAQ: JBLU), and other investors are joining him onboard. Shares of JetBlue opened up 17.2% on Tuesday and were up about 11% as of 10 a.m. ET after the stake was disclosed.
JetBlue has been flying through headwinds of late. In 2022, the airline won a bidding war for Spirit Airlines (NYSE: SAVE), but that deal was blocked due to antitrust concerns earlier this year. The airlines are appealing, but in the meantime, JetBlue also sacrificed an important alliance with American Airlines Group in hopes of getting the Spirit deal accomplished.
The airline has a new CEO and faces difficult choices as it tries to improve operations and waits on its appeal of the Spirit ruling.
Source Fool.com
Jetblue Airways Corp. Stock
Our community is currently low on Jetblue Airways Corp. with 3 Buy predictions and 12 Sell predictions.
A potential of -39.9%, resulting from comparing the current price of 4.99 € with the target price of 3 € for Jetblue Airways Corp., shows the chance of incurring significant losses.
