A regional carrier with a tailwind of profitability goes public just as the economy shows signs of life and it's not JetBlue
With a ticker symbol reminiscent of a pencil without the vowels, the market went for the eraser instead as the IPO, offered at $14 a share, closed out its first trading day at the $13.10 hangar.
Maybe the fact that all of the 19.4 million shares in the offering came from the pension plan of its parent Northwest Airlines
Then again, it's more likely that Wall Street is smart enough to look past the sector's recent price gains to find a banged-up sector inside. While major carriers such as AMR
Operating as Express Airlines I until last year, investors seem poised to just sit this one out until Pinnacle proves itself. Rare are the consistent companies like Southwest
So, don't bail on Pinnacle just yet. Wait until the captain has turned off the "fasten your seatbelts" sign.
Does checking out our Travel Center have you longing to go home for the holidays? Waiting for that great deal to get you airborne again? All this and more -- in the Cheap Air Fares discussion board. Only on Fool.com.