JBLU - JetBlue gains amid activist investor speculation

2023-07-19 11:12:43 ET

• JetBlue ( NASDAQ: JBLU ) rose 3.5% amid some speculation it could become attractive to an activist investor.
• With JetBlue ( JBLU ) stock underperforming its peers and with tough odds for its planned purchase of Spirit Airlines ( SAVE ), an activist could look to target the company to gain board seats and demand changes, according to an Activist Insight report that traders circulated on Wednesday.
• JetBlue is in the 74th percentile in the Insightia Vulnerability analysis of companies most likely to be targeted by an activist in the coming nine months.
• The report also highlighted that JetBlue's board includes Nik Mittal, who was appointed last year, after spending more than a decade at activist hedge fund Jana Partners.
• Last week, JetBlue ( JBLU ) announced its next steps as it winds down its partnership with American Airlines ( AAL ).
• JetBlue ( JBLU ) is scheduled to report Q2 results on Aug. 1.

For further details see: