Here's Why Spirit Airlines (SAVE) Stock Is Moving
Portfolio Pulse from Henry Khederian
Shares of Spirit Airlines Inc (NYSE:SAVE) are trading lower by 2.06% in sympathy with Alaska Air, which fell after reporting Q2 earnings and guiding 0-3% topline growth in Q3. The performance of Alaska Airlines is viewed as indicative of broader industry trends, leading to a negative sentiment towards airline stocks, including Spirit Airlines. Alaska Air shares declined by 9.22% following the company's less optimistic outlook.
July 25, 2023 | 5:51 pm
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Spirit Airlines shares are trading lower by 2.06% following Alaska Air's less optimistic Q3 outlook. The performance of one airline is often seen as indicative of broader industry trends.
Spirit Airlines' stock price is moving lower in sympathy with Alaska Air, which reported lower than expected Q3 guidance. This is because investors often view the performance of one airline as indicative of broader industry trends. Therefore, the negative sentiment towards Alaska Air is also affecting Spirit Airlines.
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