NEWS
The Beginning Of The End

Okay, the title is a joke. But we did break our win streak today, and if you were leveraged to the hilt, you could have managed to blow yourself up with a small move down. Nonetheless, concerns about tomorrow’s consumer price index (CPI) helped drive some selling as traders and investors locked in gains. 👀

Today's issue covers why Spirit Airlines could not be $SAVE-d, how oil giant Shell won a landmark climate case, and more noteworthy pops and drops. 📰

Here’s the S&P 500 heatmap. 3 of 11 sectors closed green, with communication services (+0.45%) leading and materials (-1.70%) lagging.

And here are the closing prices: 

Most bullish/bearish symbols on Stocktwits at the close: 📈 $STIM, $DSP, $ONMD, $AXSM, $MVST 📉 $SWKS, $AMGN, $RKT, $QSI, $RVPH*

*If you’re a business and want to access this data via our API, email us.

COMPANY NEWS
Spirit Airlines Could Not Be $SAVE-d ✈️ 

Spirit Airlines has been losing altitude since its merger with JetBlue was blocked by U.S. regulators, who argued that merging the two low-cost airlines would reduce choices and raise prices for consumers. ❌ 

In the quarters since then, the company has been trying to cut costs and take other drastic measures to survive as a standalone airline. Unfortunately, higher fuel and labor costs weighed on margins. Meanwhile, increased domestic airline capacity impacted its top line, dropping pricing and volumes from their 2023 peak.

Now, the company is moving towards bankruptcy after Frontier's hail-mary merger bid fell through. It’s reportedly preparing for advanced discussions with bondholders to find a plan that would have support from most creditors.

The move toward bankruptcy puts common shareholders on the chopping block…or at least at the bottom of the pecking order. As a result, shares fell nearly 50% after the bell, pushing shares back to their all-time lows. 😨 

Needless to say, Stocktwits community sentiment is ‘extremely bearish’ as the hopes of a turnaround fall faster than the company’s share price. 📉 

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