Keep an eye on oversold shares of JetBlue (JBLU).
For one, about five billion people are expected to fly this year, which could result in another record year for the sector. Two, airline traffic appears to be gaining a good deal of momentum. Three, big investors are also taking advantage of JBLU weakness. At the end of March, for example, Carl Icahn bought 17.73 million shares at $6.49.
In addition, the company has embarked on a turnaround plan with CEO Joanna Geraghty, who promised to take “aggressive action” to return JBLU to profitability, as noted by Barron’s.
It’s also just starting to pivot higher after finding strong support at around $5 a share.