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Should You Buy This Recent IPO Stock After Its First Earnings Report?

TheMotleyFool

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Should You Buy This Recent IPO Stock After Its First Earnings Report?

Barely more than a year ago, the COVID-19 pandemic crushed U.S. airlines. However, the industry is experiencing a renaissance of sorts in 2021, with multiple new airlines starting operations and two established budget airlines finally going public.

Sun Country Airlines (NASDAQ: SNCY) completed the U.S. airline industry's first IPO of 2021 in March. Shares of the Minnesota-based low-cost carrier surged 51% from its $24 IPO price on the day it went public. Sun Country stock continued gaining ground thereafter and has traded near the $40 mark for the past month.