JBLU - Is JetBlue a Buy for 2024 After This Year's Big Dip?
2023-12-14 10:07:00 ET
It's been a surprisingly decent year for airlines, and by extension, for airline stocks. After a few ups and downs, the NYSA ARCA Airline Index is sitting more than 20% above 2022's close, and still climbing.
Credit most of the recent bullishness to record-breaking air passenger traffic this year on the Sunday following Thanksgiving -- the busiest air travel day linked to the holiday. The American Automobile Association further predicts record-breaking air travel again in late December and early January. The International Air Transport Association (IATI) sees more growth in 2024 as well.
Yet, not every airline stock is soaring. JetBlue Airways (NASDAQ: JBLU) remains in the red for the year, unable to take flight the way most of its peers have. What gives? Is it because of problems unique to JetBlue or is the market overlooking an opportunity?
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Is JetBlue a Buy for 2024 After This Year's Big Dip?