Spirit Airlines (NYSE: SAVE) stock was falling again this week. The discount airliner officially canceled its merger with JetBlue Airways and looks to be in a desperate situation financially. The stock has fallen over 20% this week and is down around 70% year to date, according to data from S&P Global Market Intelligence.

Here's why Spirit Airlines stock fell this week, and where investors go from here.

Until recently, investors thought Spirit was going to merge with competitor JetBlue. But the companies' proposed merger got shot down on anticompetitive grounds. Spirit was then left out to dry after multiple years of planning for this business combination.

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Source Fool.com