$Spirit Airlines (SAVE.US)$the Biden-Harris DOJ “successfully” blocked$JetBlue Airways (JBLU.US)$from acquiring Spirit in January for $31 per share —which Biden declared a “victory” for the American people. 10 months later, Spirit has laid off thousands of employees, canceled tens of thousands of holiday season flights, and cost shareholders billions of dollars $. This is Bidenomics.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Justin Brewer
OPRoNo
:
I had reduced my position by 75% before Monday and sold $7 covered calls for the rest of it. I bought back all my calls for pennies this week and closed my position. I’m probably done with SAVE. Lost a lot on it, but I’ve done well on other things. The DOJ should have never blocked the JBLU deal… and SAVE’s almost certain bankruptcy after cutting over 25% of their routes & about 25% of their employees is the consequence.
RoNo : I hope you got out on Monday. I left a little house money on table but not as burned as some. Good luck!
Justin Brewer OP RoNo : I had reduced my position by 75% before Monday and sold $7 covered calls for the rest of it. I bought back all my calls for pennies this week and closed my position. I’m probably done with SAVE. Lost a lot on it, but I’ve done well on other things. The DOJ should have never blocked the JBLU deal… and SAVE’s almost certain bankruptcy after cutting over 25% of their routes & about 25% of their employees is the consequence.