LoneStarMike From United States of America, joined Jul 2000, 4028 posts, RR: 31 Posted (13 years 8 months 2 weeks 6 days 4 hours ago) and read 3674 times:
I just happened to check stock prices a little while ago and saw that Frontier's stock shot up $2.17 or 10.73% today. I know on Friday they issued a press release saying the thought they would now make a profit for the current quarter, whereas before they had expected to break even. Obviously, that's good news, but normally news of this nature won't make a stock go up that much in just one day. Is something else going on with them behind the scenes?
Four and a half times the number of shares that are normally traded were traded today.I believe when the stock market reopened after 9/11 Frontier was at $6.11. It's now up over $22.00 a share. For airline stocks, that's a miracle in this day and age.
Frontier must be doing something right. I wish I had bought some of their stock. Way to go, Frontier!
Mariner From New Zealand, joined Nov 2001, 26794 posts, RR: 82
Reply 1, posted (13 years 8 months 2 weeks 6 days 3 hours ago) and read 3616 times:
I'm a long time Frontier (FRNT) stock holder, and believe me, we're all as baffled by today as you are. Not just today - the rocket rise of the stock since the post 9/11 lows has everyone scratching their heads.
Except that - Frontier is flying a full schedule, has recalled most (or all) of their furloughed staff, and all the planes are flying. They're also starting Frontier Jet Express with Mesa in three weeks, are adding three new cities in February, and have not deferred any aircraft deliveries.
The 6th A319 is due in mid Feb.
Is "something going on behind the scenes"? We just don't know.
Most stock people assume that the rise can't go on, that that there will be a correction to the stock price "soon" - but they've been saying that for quite a while.
Whatever - Frontier is, as you say, doing something right.