JBLU - Why JetBlue Stock Is Flying Downward Today
2024-04-23 11:01:16 ET
JetBlue Airways (NASDAQ: JBLU) reported a lower-than-expected quarterly loss but lowered its full-year forecast on Tuesday. Investors are growing impatient waiting for this airline to take off, sending shares down 15% as of 10:30 a.m. ET.
JetBlue has taken investors on a wild ride since the pandemic. Airline stocks initially recovered nicely thanks to strong pent-up demand, and JetBlue outmaneuvered Frontier Group Holdings to acquire Spirit Airlines , creating a pathway for growth.
But the Spirit deal fell apart earlier this year due to regulatory opposition, leaving tough questions about how JetBlue will navigate back to profitability and fuel growth from here.
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Why JetBlue Stock Is Flying Downward Today