Originally Posted by
b3181981
I know it's bad advice to owe airline stocks when you're an airline pilot, eggs in one basket and all, but at what point would it make sense to take control of the company through buying the stock? At the current stock price it would cost each pilot $37000 to have 51% of the common stock.
If you have $37,000 (post tax) you don't ever need again then go for it. Spirit's market value is about $270M. Its projected loss in Q3 (based on management forecast of $1.16B revenue with 29% operating loss) is going to be about a $330M loss, which is more than its entire market cap.
Maybe some wallstbets group on Reddit would step in to crush the shorts and start buying shares? That would be interesting. Could turn it into a meme stock like Gamestop or AMC.