Orbisa dives into Spirit Airlines (SAVE), which saw shares fall again on Tuesday as the budget carrier continued to experience delays and cancellations following the global tech outage. In the lending market, borrow demand for available shares is greater than 99%, representing nearly 50% of the company’s float. Financing costs have risen along with volumes, with the recent tech outage coinciding with fees skyrocketing to 8,257bps, a 260% increase week-over-week. 

Published July 26, 2024.