Spirit Airlines Inc ($SAVE) Stock Forecast: Down 19.0% Today

What is Spirit Airlines Inc?

Spirit Airlines (SAVE) operates as a budget airline with a reputation for its cost-effective practices within the aviation sector. Recently, the company's stock faced a considerable downturn in the market.

Why is Spirit Airlines Inc going down?

SAVE stock is down 19.0% on Nov 20, 2024 14:41

• The company has recently filed for bankruptcy, prompting uncertainties and apprehensions among investors regarding its future.
• Analysts are in deliberation about how the bankruptcy might influence flight prices, underscoring the prevailing market ambiguity.
• Negativity surrounding the stock has been fueled by the company's failure to submit earnings reports and ongoing discussions with creditors for a restructuring plan.
• The challenging state of the U.S. budget airline sector, exemplified by Spirit's bankruptcy, sheds light on the difficulties encountered by low-cost carriers in the existing economic climate.

SAVE Price Chart

SAVE Technical Analysis

SAVE News

As Spirit Airlines Files For Bankruptcy Experts Weigh Potential Impact On Flight Prices: 'This Is Not A Black And White Situation' - ( SAVE )

Industry experts are divided about the potential impact on airfare prices after Spirit Airlines SAVE filed for bankruptcy. What Happened: Analysts are weighing on Spirit's market share to determine how the airfares will go up in the face of bankruptcy, ABC News reported on Wednesday.

https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42083607/as-spirit-airlines-files-for-bankruptcy-experts-weigh-potential-impact-on-flight-pr

Spirit's woes reveal the dismal state of America's budget airlines

Its bankruptcy shows how strained the low-cost model has become ...

https://www.economist.com/business/2024/11/19/spirits-woes-reveal-the-dismal-state-of-americas-budget-airlines

Spirit Airlines ( SAVE ) Technical Analysis - Spirit Airlines ( NYSE:SAVE )

Spirit Airlines, Inc. SAVE shares are trading lower Wednesday. Investors are concerned. The company failed to file its earnings report and said it is in talks with its creditors to develop a restructuring plan. Despite this, there is a chance the stock may be about to head higher.

https://www.benzinga.com/general/travel/24/11/41949659/stock-of-the-day-could-troubled-spirit-airlines-stock-recover

What's Going On With Spirit Airlines Stock Wednesday? - Spirit Airlines ( NYSE:SAVE )

Spirit Airlines, Inc. SAVE stock is moving lower on Wednesday after the company filed a Form 12b-25 with the Securities and Exchange Commission ( SEC ) .

https://www.benzinga.com/trading-ideas/movers/24/11/41946520/whats-going-on-with-spirit-airlines-stock-wednesday-2

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Spirit Airlines Inc Price History

01.10.2024 - SAVE Stock was up 6.2%

• SAVE stock demonstrated strong upward momentum despite pilot furloughs and financial issues.
• Market volatility may be linked to recent major transaction news and financial updates, boosting investor trust.
• While other airlines like AAL and LUV are affected by labor costs, SAVE's positive performance highlights its resilience.
• Investor response indicates confidence in SAVE's ability to overcome financial challenges and seize growth opportunities.

13.10.2024 - SAVE Stock was down 56.0%

• The stock of Spirit Airlines (SAVE) saw a notable downward movement.
• The company submitted a Form 12b-25 to the SEC, suggesting potential financial reporting challenges.
• The lack of earnings filing for the quarter ending September 2024 contributed to a significant stock price drop.
• Furthermore, rumors of potential bankruptcy and the FAA's decision to prohibit U.S.-Haiti flights following an incident involving a Spirit Airlines aircraft impacted the stock negatively.

13.10.2024 - SAVE Stock was down 58.6%

• SAVE shares plummeted after the company failed to file its earnings report and is in talks with creditors for a restructuring plan, raising concerns among investors.
• The stock dipped further as SAVE filed a Form 12b-25 with the SEC, indicating potential delays or issues with financial reporting.
• Speculation around bankruptcy and equity 'cancellation' approval by creditors added to the negative sentiment, leading to a sharp decline in SAVE stock price.
• The overall market sentiment was impacted by the news, with U.S. stock futures lower and SAVE shares falling sharply in pre-market trading, reflecting the uncertainty surrounding the company's financial situation.

13.10.2024 - SAVE Stock was down 59.7%

• Spirit Airlines (SAVE) experienced a significant bearish movement due to the following reasons:
• The company failed to file its earnings for the quarter ended September 2024, leading to uncertainty and concerns among investors.
• News of the airline nearing bankruptcy and the possibility of creditors approving equity 'cancellation' added further pressure on the stock price.
• The FAA banning U.S.-Haiti flights for 30 days after a Spirit Airlines flight was struck by gunfire also contributed to negative sentiment surrounding the airline.
• The combination of financial uncertainties, bankruptcy fears, and operational challenges resulted in a sharp decline in Spirit Airlines' stock price, reflecting a challenging day for the company in the market.

25.09.2024 - SAVE Stock was up 7.7%

• Spirit Airlines saw a surge in its stock price following the announcement of a binding term sheet with GA Telesis for the sale of 23 aircraft, suggesting potential revenue growth and operational efficiency improvements.
• Increased merger interest from Frontier Group Holdings Inc. also played a role in the positive market sentiment, indicating possible industry consolidation.
• Favorable attitudes from well-funded investors towards Spirit Airlines bolstered overall market confidence and pointed to encouraging future prospects for the airline.
• Conversely, IBM's underwhelming sales performance and stock decline underscored diverging trends in the market, with investors showing preference for companies like Spirit Airlines that have positive developments over those facing challenges like IBM.

31.09.2024 - SAVE Stock was down 9.5%

• SAVE stock experienced a bearish movement likely due to the overall negative sentiment towards the airline industry.
• Labor costs impacting the bottom lines of competitors like AAL and LUV could have raised concerns about similar challenges for Spirit Airlines.
• The volatility in SAVE shares, despite recent positive news about a significant transaction, indicates that investors may be cautious about the company's financial performance in the near future.
• The announcement of the sale of aircraft could have been overshadowed by broader industry challenges, leading to the bearish movement in SAVE stock.

24.09.2024 - SAVE Stock was down 8.9%

• SAVE stock had a strong bearish movement today, possibly influenced by the following factors:
• Weak sales and revenue miss by IBM may have set a negative tone for the overall market sentiment, impacting SAVE and other stocks.
• Despite whales adopting a bullish approach towards SAVE recently, the renewed merger interest with Frontier Group Holdings Inc. ULCC and ongoing discussions with bondholders over a potential bankruptcy filing could have added uncertainty, leading to the bearish movement.
• Mixed U.S. stock futures and overall market conditions may have contributed to the downward pressure on SAVE stock.

11.10.2024 - SAVE Stock was up 8.9%

• Spirit Airlines stock surged today as US airline stocks gained altitude post Trump's re-election, with the possibility of lesser scrutiny on mergers and acquisitions in the industry.
• The market movement could be attributed to the positive sentiment surrounding potential industry consolidation and reduced regulatory hurdles under the new administration.
• Investors may view this development as a catalyst for future growth and profitability in the airline sector, leading to increased confidence in companies like Spirit Airlines.

30.09.2024 - SAVE Stock was down 6.1%

• SAVE stock showed a bearish movement today despite recent volatility and positive news.
• The bearish trend may be linked to the weak overall market sentiment influenced by IBM's poor sales and declines in other major stocks.
• The resurgence of merger talks with Frontier Group Holdings Inc. and the positive transaction announcement with GA Telesis might not have been sufficient to counteract the negative impact of broader market conditions.
• Deep-pocketed investors' optimistic stance on SAVE hints at a potential stock rebound once market conditions become more favorable.

19.10.2024 - SAVE Stock was down 19.0%

• SAVE stock faced a notable bearish movement primarily linked to apprehensions about the company's financial standing and potential bankruptcy.
• The absence of filed earnings reports and ongoing dialogues with creditors regarding a restructuring strategy have intensified investor concerns.
• Generally, budget airlines are encountering negative market sentiment, underscoring obstacles encountered by firms following the low-cost model.
• Uncertainties surrounding SAVE's future and the potential equity 'cancellation' have played a role in the significant drop in the stock price.

20.10.2024 - SAVE Stock was down 19.0%

• The company has recently filed for bankruptcy, prompting uncertainties and apprehensions among investors regarding its future.
• Analysts are in deliberation about how the bankruptcy might influence flight prices, underscoring the prevailing market ambiguity.
• Negativity surrounding the stock has been fueled by the company's failure to submit earnings reports and ongoing discussions with creditors for a restructuring plan.
• The challenging state of the U.S. budget airline sector, exemplified by Spirit's bankruptcy, sheds light on the difficulties encountered by low-cost carriers in the existing economic climate.

12.10.2024 - SAVE Stock was up 21.7%

• Spirit Airlines (SAVE) experienced a strong bullish movement today.
• The increase in US airline stocks following the recent election results may have contributed to the rise in SAVE's stock price.
• The expected changes in regulations related to mergers and acquisitions in the airline sector under the new administration may have led to improved investor confidence in Spirit Airlines.
• SAVE demonstrated resilience by outperforming the general market downtrend in pre-market trading, potentially driven by the positive market outlook for the airline industry post-election.