Spirit Airlines announced that on October 11, it modified its card processing agreement to extend the deadline for its 2025 notes from October 21 to December 23 and the early maturity date from December 31 to March 3.
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00:00All right staying in the airline sector here we did have some news on spirit airlines ticker save
00:08Someone came in and tried to save save here spirit. Airline shares are trading higher at the company extended is debt
00:15refinancing deadline, so
00:18You know spirit was up against the clock for this debt refinancing got an extension on it
00:22The stock actually traded up a to $2 and 40 cents this or what? Was that?
00:57stories and strong stocks as opposed to trying to buy bad stocks and bad
01:04stories and that's what Save and Boeing, that's all part of the same thing. I mean
01:09you just think about how strong this market has been. The turnaround story,
01:12everybody likes a good turnaround story, everybody wants a good turnaround story
01:16but they're the toughest things to trade, they're the toughest things to time.
01:20Sometimes the stories turn around, sometimes they never turn around but you
01:23just see the stock and it's just a disaster and they're teetering with
01:26bankruptcy and yeah they're gonna get some help here now, maybe they're not
01:29gonna go bankrupt but maybe they are still gonna go bankrupt. There's a lot
01:33of things to worry about here. I let it be somebody else's worry. I don't need
01:37to worry about this. I have enough worries, I don't need to worry about SAVE.
01:41Okay, a couple things here and we talked about this last week or whenever when
01:48it had the big dip. It's like what are you doing at $1.50 on something?
01:52Are you shorting it? Oh yeah, I got a $1.50 on the bone here, this company is worthless,
01:58they're going under. No, no, I mean if anything and not for a long-term trade
02:03but you look at it you know and say well you know if I buy X amount of shares
02:07here at $1.50 and it goes to zero then I lose, then I lose my money, right?
02:13If a lot of people are probably just in for that for the trade, you know even
02:18some hedge funds or you know big traders, you know look at the volume this thing
02:22trades, you know it trades monster volume. They're like hey let's get long
02:25five million save and if it you know if it goes up to two bucks, who cares if
02:31they're going bankrupt? We'll unload it and I think that's you know different
02:34kind of traders. So man that big old pop to $2.50 here, wow! $2.51 to $0.50 off that.
02:42Huge percentage moves here. I'm just looking at this two bucks. If there's
02:46like hope for this company and things are gonna come through and they're gonna
02:51get refinanced and you know people are actually gonna, I mean their seats are so
02:55small. I don't know who builds their airplanes. Dennis, remember when we flew back from
02:59New York at one time on Spirit? I mean basically I don't have the widest front
03:04seat. That's why they sell the big front seat. Yeah, yeah. So let's see if we can
03:09establish you know a strong $2 bid. I mean too bad they didn't let this company
03:14get, I mean JetBlue we talked about that. I mean you know the merger I don't know
03:18obviously that's off the table. No one's gonna go back to that but yeah let's
03:22uh you know let's let's hold those games. I'd love to see it go back to $2.50 for
03:26shareholders but right now let's see if you can even hold a $2 bid. Right now
03:31it's a battle of the algos there. Better stories out there.