JetBlue Airways Soars 6%, May Be Expericencing A Short Squeeze

Shares of JetBlue Airways Corporation JBLU soared over 6 percent Thursday following a positive Q4 earnings report.

The move in the shares may also be fueled, in part, by a short squeeze. 17.91 percent of the stock’s float was short. The percentage short has also declined 4.59 percent since the pervious two-week reporting period.

Traders who were short may be buying shares to cover their positions and driving the stock higher.

After the market open on Thursday the share price declined to $15.27 and then spiked up.

JetBlue Airways Corporation recently traded at $16.72, up 6.02 percent.