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SPIRIT AIRLINES INCSPIRIT AIRLINES INCSPIRIT AIRLINES INC

SPIRIT AIRLINES INC

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SAVE trade ideas

SAVE WIll Soar To 3X ProfitsHello, What is Save? Spirit Airlines, Inc. is an American ultra-low-cost carrier headquartered in Miramar, Florida in the Miami metropolitan area. It is the seventh-largest commercial airline in the United States. Spirit operates scheduled flights throughout the United States the Caribbean and Latin America. Why Spirit Airlines could stage a comeback Spirit Airlines stock looks very attractive in a "steady recovery" scenario. Las Vegas and Orlando are key markets for the carrier, so as casinos, resorts, and theme parks start to reopen, demand for its flights could increase dramatically. Spirit Airlines could be one of the first airlines to benefit from a demand recovery. Furthermore, unlike most major U.S. airlines, Spirit doesn't rely on high-fare business travelers to pad its profits. Business travel could remain weak even after a vaccine is deployed (due to growing comfort with videoconferencing tools, the recessionary economic environment, and business failures during the pandemic), but that wouldn't hurt Spirit Airlines. And while some people will have to cut back on leisure travel due to job loss, the budget carrier could more than offset that headwind with market-share gains, as budget-conscious travelers seek out its low fares. Indeed, due to their dependence on high-fare business travel, American Airlines, Delta Air Lines, and United Airlines must be cautious about restoring capacity as demand recovers. Large swaths of their route networks can't operate profitably based on leisure demand alone. With some of the largest airlines in the country planning to err on the side of too little capacity over the next year or two, Spirit may be able to return to 2019 capacity levels long before demand recovers fully. That's crucial, because unlike the legacy carriers, Spirit has no good options for shrinking its fleet in the near term. This isn't a done deal While air travel is starting to recover and there are hopeful signs on the vaccine-development front, investors shouldn't expect smooth sailing for Spirit Airlines stock. Many Americans are itching to get away from home, but many others have no interest in getting on a plane until they've been vaccinated. As a result, while getting traffic up to perhaps 30% of 2019 levels may be achievable over the next couple of months, the recovery could slow thereafter. Despite its industry-leading cost structure, Spirit Airlines is unlikely to break even with that level of demand. Furthermore, delays and setbacks are par for the course in vaccine development. As clinical trials progress over the next several months, some vaccine candidates will likely fail. That could shake investors' confidence, particularly with respect to Spirit Airlines stock and other travel-sensitive shares. Still, Spirit Airlines has taken necessary (albeit painful) steps to shore up its balance sheet over the past month, including an equity offering and convertible bond issuance. Including federal loans that Spirit can tap if necessary, the airline has ample liquidity to survive even a prolonged downturn. Meanwhile, COVID-19 isn't likely to hurt the airline's long-term growth prospects. As a result, there could be more gains ahead for Spirit Airlines shareholders. So the question remains, will SAVE Soar as indicated on this chart, or are we watching a dead cat bounce? I will leave this for you to decide! Good Luck Cheers!!
NYSE:SAVELong
by keifer
12
SAVE- Possible trend breakWith J Pow saying money printer is on, this could gap up above down trend, RSI is a little over sold (could drop lower), but thinking we could see a small reversal on this. Would look at around 12.67 as possible resistance. (Personally think this stock should just end. Either buy out or just go under. 549m Market cap vs other airlines- Jet blue 2B, Alaska Airlines 3B, Southwest 14B. Just not sure how they're still open rn. I think Amazon should buy them out. Perfect time to expand for cheap. If they have any left over cash...)
NYSE:SAVELong
by MichaelMF
Potential Double Bottom forming on SAVESpirit Airlines chart has looked terrible over the past week and a half. Thankfully I believe that this stock may be in for quite a relief bounce. It looks like SAVE could have formed a double bottom at around $7.20. This recent low was formed in Mid March, and as price approaced this range this past week, it bounced off perfectly showing that level to be a strong support. If PA reacts in a similar manor as it did in March, we could see a relief bounce targeting around $15.00. I think that if PA can break the $8.70-9.00 falling resistance, better days could be in store. Ready to see how this one plays out.
NYSE:SAVE
by xcbickel