United Airlines Stock is in Free Fall, Down More Than 3.5 Percent in Early Trading

[DonViejo]

Source: Mediaite




by Joe DePaolo | 9:46 am, April 11th, 2017



One day after a man was violently dragged off of a United Airlines flight after it was overbooked, the airline’s stock is in free fall.

After closing Monday at 71.52, United was listed at 69.19 as of 9:40 am ET Tuesday — a drop of more than three percent. The stock began to tumble late in the day on Monday. It dropped nearly a half point in the final hour yesterday, going from 71.96 to its closing price of 71.52.

On Tuesday, the stock opened at 70.12. It rose briefly after the opening bell, crawling up to 70.30, before plummeting to an early-morning low of 68.95. The United story gained traction through the morning on Monday, but the stock was actually up in early trading. At 12:27 pm ET, United posted a statement to its Twitter account from CEO Oscar Munoz — in which he said “I apologize for having to re-accommodate these customers.”

As that statement began to circulate on social media and was widely mocked, United stock began to plummet in the late-afternoon. In after-hours trading, it fell below 70, down nearly 2.5 percent.

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Read more: http://www.mediaite.com/online/united-stock-is-in-free-fall-down-more-than-3-5-percent-in-early-trading/

[onenote]

1. The stock is down, but hardly in a "free fall"

I'm not predicting where it will end up at the end of the day, but it has recovered a bit from its earlier low for the day -- and even that low was still higher than the stock was in late March.

[JayhawkSD]

2. You beat me to it.

Nor does dropping half a point constitute a "tumble."

[Bengus81]

9. Half point?? Right now DOWN all most three bucks and 4%

Still early in the morning and many at work haven't seen this story. Be interesting to watch.

[StrictlyRockers]

4. How about down over 4%? Is that a tumble?

Down more than three points & over 4% now.

[onenote]

10. Still $32 higher than it was ten months ago.

[True Dough]

5. I hope there's some staying power to this deserved kick in the pants

but I doubt it. This too shall pass, although it's the karma United has invited.

[edhopper]

6. The whole market is down

so it's hard to say.

Will people stop flying United over this?

[PSPS]

7. LOL. "Free fall?" Why is "Midiaite" even allowed in LBN? Like HuffPo, it's just a click bait factory

[Skittles]

13. this is getting ridiculous

[Aristus]

8. If this gets stockholders to say: "Okay, I was kidding! Some things ARE more important than a high

rate of return! Maybe good customer service is important after all!" then all is not lost.

But they won't. They're stockholders, for Christ's sake. If they had any intelligence, they would have said that decades ago.

[elleng]

11. and the Dow is down 47.94 points @ 12:20 p.m.

[Fast Walker 52]

12. United lost a billion dollars

http://money.cnn.com/2017/04/11/investing/united-airlines-stock-passenger-flight-video/

[onenote]

14. at the end of the day, it was down only 82 cents.

For a 'loss' in market value of around 258 million.

To put that in some perspective, three weeks ago (March 21), UA's stock closed at 65.28 -- $4.42 below its closing price today. So its market value after today is still nearly $1.4 billion higher than it was three weeks ago.

And if you go back less than 10 months, UA was trading at only $37.75 -- its market value after today's loss is over $10.3 Billion higher than it was then.

So I don't think UA's investors are freaking out as much as that story might suggest.

[onenote]

15. Remember when United stock was in a "free fall"?

Well, less than a month later its trading at around four dollars higher than it was after the "free fall" and several dollars higher than it was BEFORE the "free fall."

Further evidence that stock market analysis is best left to professionals.

[catsudon]

16. i still fly delta

for all my oversea needs, and may try Japanese or Taiwanese in the future depending on price.