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
Currently there is a rather negative sentiment for Jetblue Airways Corp. with 1 Buy predictions and 4 Sell predictions..
This results in a negative potential of -39.82% based on a current price of 6.65 € and a target price of 4 € for the stock.
