Why Southwest Airlines Stock Dived Today
An assertive set of recommendation downgrades of airline stocks by a researcher was a major factor in the decline of Southwest Airlines (NYSE: LUV) stock on Tuesday. Of the four carriers that received a chop, Southwest was one of only two that was demoted to underperform, or sell. With that, the stock's price eroded by 6%, on a day when the S&P 500 index closed up by 0.4%.Jefferies marked the beginning of April with the suite of downgrades, which were detailed in a research note published by the company. The note covered the stocks of five airlines, four of which received recommendation downgrades. Southwest and Air Canada were knocked down to underperform, while American Airlines and Delta Airlines were each cut to hold. Only United Airlines was left unchanged, at buy.Continue reading
An assertive set of recommendation downgrades of airline stocks by a researcher was a major factor in the decline of Southwest Airlines (NYSE: LUV) stock on Tuesday. Of the four carriers that received a chop, Southwest was one of only two that was demoted to underperform, or sell. With that, the stock's price eroded by 6%, on a day when the S&P 500 index closed up by 0.4%.
Jefferies marked the beginning of April with the suite of downgrades, which were detailed in a research note published by the company.
The note covered the stocks of five airlines, four of which received recommendation downgrades. Southwest and Air Canada were knocked down to underperform, while American Airlines and Delta Airlines were each cut to hold. Only United Airlines was left unchanged, at buy.
