What's Going On With Spirit Airlines Stock?
Portfolio Pulse from Erica Kollmann
Spirit Airlines (NYSE:SAVE) shares are trading higher after the company introduced new premium offerings and a U.S. appeals court blocked a rule requiring airlines to disclose fees upfront. The new travel packages include various options such as snacks, reduced baggage fees, and Wi-Fi service. Spirit's stock is currently trading below its 50-day moving average, and 19.11% of shares are being sold short.
July 30, 2024 | 3:35 pm
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Spirit Airlines shares are trading higher due to the introduction of new premium travel packages and a U.S. appeals court blocking a rule requiring airlines to disclose fees upfront.
The introduction of new premium offerings is likely to attract more customers and increase revenue, while the court ruling removes a potential regulatory burden. Both factors are positive for Spirit Airlines' stock in the short term.
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