Why Atlas Air Stock Is Soaring Again Today
Days after word leaked that Atlas Air Worldwide Holdings (NASDAQ: AAWW) was in talks to be acquired, the cargo airline has reportedly reached an agreement on a deal. The stock has been gaining altitude all week and that continued on Wednesday, climbing by more than 10% on buyout anticipation.
Atlas is a charter airline operator that provides freight, passenger, and military lift. The company is a big part of "Amazon Air," the cargo airlines that are contracted to fly for Amazon.
The stock was up on Monday on reports that Atlas was in talks with a group led by Apollo Global Management (NYSE: APO), though there were few details about the terms of the deal or Atlas' potential valuation.
Source Fool.com
