From CNBC:

Spirit Airlines’ shares dropped by 22% after a judge halted the proposed merger with JetBlue Airways, causing the stock to plummet by 60%. The decision cited reduced competition, potentially harming cost-conscious travelers who rely on Spirit’s low fares. Analysts have a $14 price target for the stock, which was trading at just over $6 per share. JetBlue’s shares also fell about 9% after the ruling.



Read more: Spirit Airlines shares sink after judge blocks JetBlue merger