Prediction: Here's Why Spirit Airlines Stock Will Keep Heading Lower
Things have gone from bad to worse for Spirit Airlines (NYSE: SAVE) in 2024. After its proposed merger with JetBlue Airways was blocked, the stock fell. Then, the company started to report earnings figures with growing losses as the discount airline model loses its appeal in the United States. The stock fell some more. As of this writing, shares of Spirit Airlines have fallen 84% this year and are now down 97% from all-time highs to $2.58 a share. Ouch.
Is this the bottom for Spirit Airlines? I don't think so. I predict the worst is yet to come for this embattled company teetering on the brink. Here's why things may get even worse for Spirit Airlines stock over the next few years.
In January 2024, a judge ruled against the merger of JetBlue and Spirit Airlines. The ruling was given because the courts thought a merger would reduce competition and raise prices for airline travelers, an idea that revolved around raising ticket prices on Spirit routes once they became a part of JetBlue.
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 -27.88% based on a current price of 5.55 € and a target price of 4 € for the stock.
