Why Shares of Spirit Airlines Lost Altitude Today

Shares of Spirit Airlines (NYSE: SAVE) traded down 5.4% on Friday after the discount airline's stock was downgraded by Vertical Research Partners. Airlines are stabilizing, but still have a way to go before they get healthy.

Spirit and other airlines struggled in 2020 due to the COVID-19 pandemic. The stock fell more than 75% in the early days of the pandemic, but has slowly fought its way back in the months that followed. Spirit shares are off 35% over the past 12 months, and with a vaccine rollout beginning, investors are hopeful that better times are ahead.

Image source: Spirit Airlines.

Source Fool.com