What's Going on With $SAVE Stock?

This stock is getting a ton of attention - here's why.

SAVE Stock

Spirit Airlines has had a tough week.

On Tuesday, a federal judge blocked JetBlue’s acquisition of Spirit Airlines due to antitrust concerns. Yesterday, the company announced they are restructuring their debt.

As a result of this news, the stock dropped from $15 to below $5 in a matter of days.

What to Watch

Yesterday the stock dropped on the restructuring news but clawed its way back into close. A reason for this could be that investors thought Spirit was restructuring their company - but instead they are only restructuring their debt.

From the chart below you can see the midday rebound on the stock.

Looking Ahead

Today this stock is going to be extremely active. Traders realizing that the company isn’t restructuring but instead it is the debt that they are restructuring can cause this to move.

Watch for a flip of yesterday’s candle on the daily for a potential entry opportunity (see below).

For more information, watch the 5 minute clip below: