Seriously, you think there is an underlying reality to the market? Oh, there probably is, but it’s lost in the day to day variability of public opinion. On May 15 2020 SAVE closed at $8.01 per share. Since then there have been no major management changes, I doubt that NK has hired or fired or retired 200 people, and yet Friday it closed at $37.36.

It’s all opinion based - that’s why they call it a market - and opinion is driven as much by emotion as fact - probably more so. Oh, in the long run I think the underlying fundamentals govern it, but on any given day? Nope. Frontier as an IPO is new and shiny - not unlike shiny jet syndrome - and there is no good reason not to buy it. But it’s the flavor of the month. That’s not putting it down, it is GOOD for an IPO to get a healthy start, but fundamentally I think NK and F9 are six of one, half dozen of another. They use the same business model and in the current climate I think both will gain ground on the Big Three in domestic flying unless business flying rebounds quickly.. SWA will too, and from a higher baseline.