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American Airlines' shares surge as shorts squeezed after results


U.S. airline shares had gained ground since November’s vaccine breakthroughs but came under renewed pressure earlier this week amid concern over new coronavirus variants and tighter restrictions.
American reported a net loss of $2.18 billion, or $3.81 per share, for the fourth quarter, compared with a profit of $414 million, or 95 cents per share, a year earlier. The carrier reported an annual loss of $8.9 billion, its biggest on record.
Shares climbed 26% to $21 a share in early trading even as the heavily leveraged airline reported large losses and faces an uncertain industry outlook. Investors said the gains are likely fueled by a short squeeze. American is the most heavily shorted airline stock, according to data from S3. ....

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