Why Spirit Airlines Stock Is Losing Altitude Today
Spirit Airlines (NYSE: SAVE) shareholders have enjoyed a nice recovery in 2021 after a miserable 2020. But on Wednesday a Wall Street analyst said the stock has gotten ahead of the recovery, causing shares to fall 5%.
Airlines were hit hard last year by the pandemic, with demand for travel all but evaporating, but the stocks have recovered in recent months on hopes that as vaccination becomes more widespread, demand for travel will return. Spirit has always seemed like a likely candidate to recover ahead of the pack thanks to its industry-low costs and network catering to the leisure travelers who are expected to come back first.
Image source: Spirit Airlines.
Source Fool.com
