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Published on Thursday, March 18, 2021

Sun Country shares surge on opening day as publically traded company






Sun Country Airlines became an immediate beneficiary of growing optimism of a travel rebound. On its stock market debut its opening share price surged more than 50%. "We're feeling really good about a recovery," Sun Country CEO Jude Bricker told CNBC.


Sun Country sold more than nine million shares, priced at $24, which closed at $36. on Wednesday. High demand sent the stock surging, valuing the airline at about $2 billion.


The $218.2 million Sun Country raised at the opening price will be used to pay down the $45 million loan it received under the federal CARES Act.


 


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