Virgin America Inc (NASDAQ: VA)
There could be big news coming across the wire surrounding Virgin America, and it’s sending the stock downward. Let’s go over the What, Why and What’s Next surrounding the story on VA stock…
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What’s Going On With VA?
Virgin America started the day off on a positive trend, gaining a little more than 1%. However at about 1:15, something happened that sent the stock downward. Currently (2:25), VA is trading at $53.45 per share after a loss of $0.40 per share (0.70%).
Why Is The Stock Taking A Dive?
When we saw that VA was taking such a hard dive, the CNA Finance team started digging to see what we could pull up. We found two stories:
- White House Press Call – The first, and likely the biggest, part of the declines we’ve seen today is a possible White House Press Call that’s coming down the line. According to chatter on Twitter, the press call will take place soon with the discussion being increasing competition in the airline industry.
- View From The Wing – There was also a post on VFTW about the merger between Alaska Airlines and VA. The post suggests that the Department of Justice may block the deal. To read the post, click here.
The truth is that things aren’t looking good for Virgin America. At the end of the day, either one of these stories could lead to bad news for the company, and, until the stories are resolved, investors are likely to be concerned. Nonetheless, we’ll keep an eye on the situation to see if anything new comes up, as news can always cause moves.
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[Image Courtesy of Wikimedia]