ALGT - Why Allegiant Travel Stock Lost Altitude in October
2023-11-02 14:39:40 ET
Allegiant Travel (NASDAQ: ALGT) didn't release third-quarter results in October, but the airline and resort operator was weighed down by the results and outlooks posted by its aviation rivals. Shares of Allegiant fell 13.3% for the month, according to data provided by S&P Global Market Intelligence , on growing investor fears that a slowdown is at hand.
Allegiant is not your typical airline. The discounter avoids direct competition from larger airline rivals by focusing on connecting secondary markets.
It has also tried to diversify revenue by offering not just a way to get to your destination, but also things to do once you are there. Allegiant has previously invested in golf and family fun centers and is currently putting the finishing touches on its in-house developed Sunseeker Resort in Florida.
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Why Allegiant Travel Stock Lost Altitude in October