Did American Airlines Shorts Just Get WSB’d?
American Airlines shares exploded higher this morning, up almost 100% at one point, following lackluster 4th quarter earnings and a cautious outlook on when a recovery would materialize after an unprecedented drop in air travel last year because of the coronavirus pandemic.
“As we look to the year ahead, 2021 will be a year of recovery,” Chief Executive Officer Doug Parker said in an earnings statement.
“While we don’t know exactly when passenger demand will return, as vaccine distribution takes hold and travel restrictions are lifted, we will be ready.”
The reaction appears to be driven by the fact that AAL is among the most-shorted of its peers…
…and we note that Reddit user u/cardiffgiantthe1st in an online discussion Wednesday said:
“AAL the next GME?”
It could be!
It’s a new world indeed… prepare yourself for an onslaught of establishment complainers that this is not right.
Thu, 01/28/2021 – 08:10