JetBlue’s (JBLU) second-biggest stakeholder, Vladimir Galkin, is threatening to sell his nearly 10% interest in the carrier if its cost-cutting plan and broader efforts fail to turn around its performance, Reuters’ Doyinsola Oladipo reports. “I am underwater a little bit and just going to have to hold on to it. I don’t want to say for as long as it takes, obviously, but maybe for another year,” Galkin, a major winner from the so-called “meme stock” rally of 2021, told Reuters. The investor owns roughly 35M shares, or $212M, in JetBlue, he confirmed to Reuters.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on JBLU:
- Morning News Wrap-Up: Tuesday’s Biggest Stock Market Stories
- JetBlue Stock (JBLU) Drops after CEO Warns that Financial Struggles Will Continue
- JetBlue implementing new cost cuts, to cut more flights, CNBC reports
- Short Report: Short interest in JetBlue receding
- Airline stocks fall after Israel attack on Iran closes airspaces