AAL Stock Price: American Airlines Group inc soars, squeezing short sellers, shrugging covid concerns

NASDAQ: AAL is up some 45% in Thursday's premarket trading, easily topping the $23 level.
The move comes after American Airlines Group painted a bleak picture of aviation in 2021.
Retail traders are squeezing those taking short positions.

Yohay Elam FXStreet

Is American Airlines Group Inc (NASDAQ: AAL) the next GameStop? Retail traders have been seizing on vulnerable shorts once again, pushing an old stock higher – and spectacularly so. The Western world's vaccination campaigns are still running at a snail's pace, imposing bans on travel from one another.

American Airlines has recognized the situation and painted a bleak picture of the future. The Fort Worth-based firm continues struggling. Moreover, the company has just posted record losses – adding a past weakness to future ones.

Nevertheless, traders organizing on Reddit and other platforms have probably realized that short sellers are ready for another squeeze.

AAL stock chart

NASDAQ: AAL is surging by nearly 50% at the time of writing in Thursday's premarket trading. on course to hit the highest since February last year – just before COVID-19 hit.

The 52-week high of $30.78 is the next target to watch above current levels. Support awaits at the 52-week low of $15.38.

More Should I buy GameStop (GME Stock) right now?

Premium

You have reached your limit of 3 free articles for this month.

Start your subscription and get access to all our original articles.

Subscribe to Premium Sign In

Author

Yohay Elam

FXStreet

Yohay is in Forex since 2008 when he founded Forex Crunch, a blog crafted in his free time that turned into a fully-fledged currency website later sold to Finixio.

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

EUR/USD drops to daily lows near 1.1630

EUR/USD now loses some traction and slips back to the area of daily lows around 1.1630 on the back of a mild bounce in the US Dollar. Fresh US data, including the September PCE inflation numbers and the latest read on December consumer sentiment, didn’t really move the needle, so the pair is still on course to finish the week with a respectable gain.

GBP/USD trims gains, recedes toward 1.3320

GBP/USD is struggling to keep its daily advance, coming under fresh pressure and retreating to the 1.3320 zone following a mild bullish attempt in the Greenback. Even though US consumer sentiment surprised to the upside, the US Dollar isn’t getting much love, as traders are far more interested in what the Fed will say next week.

Gold makes a U-turn, back to $4,200

Gold is now losing the grip and receding to the key $4,200 region per troy ounce following some signs of life in the Greenback and a marked bounce in US Treasury yields across the board. The positive outlook for the precious metal, however, remains underpinned by steady bets for extra easing by the Fed.