AMR Corp. (AMR), the parent of American Airlines is having a great day in today’s session. The shares have been up by as much as 22%.
The rally is being fueled by the news that the company reported a loss today but it was much less-than-expected. For the first quarter, AMR lost $375 million or $1.35 a share compared with a loss last year of $341 million or $1.37 a share. The Street was looking for a loss of $1.62 a share.
The stock has been down sharply this year, but I think AMR is at a good price. These low-priced stocks can move quickly. AMR has more than doubled from its March low.