Originally Posted by
Lincoln Osiris
Overall, this is
normal post-bankruptcy behavior. Bondholders are monetizing equity they didn’t choose for long-term holdings. No major insider red flags post-reorg.
Volume today (~243,600) is
in line with or slightly below average (~277,600)
- That suggests there’s no massive block selling—it looks more like a broad pullback rather than a dump.
- This appears to be an orderly, technical selloff — not a panic or forced dump.
- Volume is moderate, not excessive, and aligns with regular trading patterns.
- Indicators show technical breakdown, likely prompting traders to take profits or reduce exposure.
- There’s no evidence yet of a big, coordinated dump from insiders or bondholders.
The ~8% drop today seems rooted in technical market factors, not alarmingly large selling by insiders or bondholders. But continued volatility and monitoring of volume and filings over the next few days is wise.
Volume is normal today because the S-1 isn't even effective yet. The SEC has to approve it, which normally takes a few weeks. It was just filed yesterday.
They are selling 6.2M shares, which is substantially more than the 250,000 shares traded per day.
The market is up substantially today as well as most airlines, but Spirit is off 8% already.