AAL American Airlines - Burning Through $70 million A Day
American Airlines 1st Quarter numbers are in. As expected, they weren't good.
AAL just posted its biggest loss since the Great Recession in 2008 as they lost $2.2 Billion. In the 2nd quarter they are burning through $70 million dollars per day. SO if you're wondering how the 2nd quarter numbers will look, that should give you somewhat of an idea. US airline travel is down approximately 95% compared to the same time last year. In attempts to cut costs, around 39,000 employees have volunteered for unpaid pr partially paid leave.
Brief reminder, airlines can most definitely fail. American Airlines is still fresh off it's bankruptcy that occurred in late 2011.
Technical:
Stock prices at the moments seem to be pure gambles as some are completing deviating from TA and fundamentals. Would only buy to go in and out for quick trades. We're not long on airlines until we see flights filing up again. If going long for a quick scalp, look for support around $10.45 and $9.00 with a tight stop loss. As per bottom, we've seen some consolidation in the current region we're in but we're not yet comfortable here. Any further drops we can look at $6.94, $4.55, & $1.09.
Hit us with a like and a follow for more updates. Cheers!
Disclaimer:
I do not provide personal investment advice and I am not a qualified licensed investment advisor. I am an amateur investor.
All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. I will not and cannot be held liable for any actions you take as a result of anything you read here.
Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on here, expressed or implied herein, are committed at your own risk, financial or otherwise.
AAL just posted its biggest loss since the Great Recession in 2008 as they lost $2.2 Billion. In the 2nd quarter they are burning through $70 million dollars per day. SO if you're wondering how the 2nd quarter numbers will look, that should give you somewhat of an idea. US airline travel is down approximately 95% compared to the same time last year. In attempts to cut costs, around 39,000 employees have volunteered for unpaid pr partially paid leave.
Brief reminder, airlines can most definitely fail. American Airlines is still fresh off it's bankruptcy that occurred in late 2011.
Technical:
Stock prices at the moments seem to be pure gambles as some are completing deviating from TA and fundamentals. Would only buy to go in and out for quick trades. We're not long on airlines until we see flights filing up again. If going long for a quick scalp, look for support around $10.45 and $9.00 with a tight stop loss. As per bottom, we've seen some consolidation in the current region we're in but we're not yet comfortable here. Any further drops we can look at $6.94, $4.55, & $1.09.
Hit us with a like and a follow for more updates. Cheers!
Disclaimer:
I do not provide personal investment advice and I am not a qualified licensed investment advisor. I am an amateur investor.
All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. I will not and cannot be held liable for any actions you take as a result of anything you read here.
Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on here, expressed or implied herein, are committed at your own risk, financial or otherwise.