Spirit Airlines Announces Immediate Wind-Down of Operations
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 04 2026
0mins
Catch up on the weekend's top five stories with this list compiled by The Fly: 1) Spirit Aviation (FLYYQ), parent company of Spirit Airlines, announced that the company has started a wind-down of operations, effective immediately. All Spirit flights have been cancelled. Spirit said, "The wind-down follows the Company's extensive and comprehensive eff orts to restructure the business and pursue transactions to strengthen Spirit's financial position and create a sustainable path forward. Unfortunately, despite the Company's eff orts, the recent material increase in oil prices and other pressures on the business have significantly impacted Spirit's financial outlook. With no additional funding available to the Company, Spirit had no choice but to begin this wind-down." Spirit will process refunds for any flights purchased through Spirit. 2) GameStop (GME) submitted a non-binding proposal to acquire 100% of eBay (EBAY) at $125.00 per share in cash and stock. GameStop has built a 5% economic stake in eBay through derivatives and beneficial ownership of common stock. GameStop is filing a Schedule 13D and HSR notification tomorrow. The proposed offer is $125.00 per share, comprising 50% cash and 50% GameStop common stock, with full shareholder election rights as to consideration type and pro-rata allocation. Aggregate undiluted equity value is approximately $55.5B, based on eBay's most recently disclosed undiluted share count, representing a 27% premium to the 30-day VWAP and a 36% premium to the 90-day VWAP. The transaction is conditioned on customary closing conditions. 3) Berkshire Hathaway reports Q1 net earnings $10.18B vs. $4.67B last year. Reports Q1 revenue $93.68B vs. $89.73B last year. During the quarter, Berkshire repurchased 33 class A shares (BRK.A) at an average price of $729,701.17 and 431,462 class B (BRK.B) shares at an average price of $486.92. The fair value of Berkshire's five largest holdings at March 31, 2026 and December 31, 2025 represented 61% and 65%, respectively, of the aggregate fair value of its equity securities. 4) Meta (META) is facing a trial in New Mexico that could prompt a judge to order sweeping changes to how Facebook, Instagram, and WhatsApp operate, Diana Jones of Reuters reports. The case stems from a lawsuit accusing the company of designing its products to addict young users and failing to protect children from sexual exploitation on the platforms. 5) President Trump said in social media, "Countries from all over the World, almost all of which are not involved in the Middle Eastern dispute going on so visibly, and violently, for all to see, have asked the United States if we could help free up their Ships, which are locked up in the Strait of Hormuz, on something which they have absolutely nothing to do with - They are merely neutral and innocent bystanders! For the good of Iran, the Middle East, and the United States, we have told these Countries that we will guide their Ships safely out of these restricted Waterways, so that they can freely and ably get on with their business."
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Analyst Views on EBAY
Wall Street analysts forecast EBAY stock price to fall
8 Analyst Rating
2 Buy
5 Hold
1 Sell
Hold
Current: 109.320
Low
60.00
Averages
95.00
High
112.00
Current: 109.320
Low
60.00
Averages
95.00
High
112.00
About EBAY
eBay Inc. is a global commerce company. The Company's technology empowers buyers and sellers in more than 190 markets globally. Its online marketplace is located at www.ebay.com and its localized counterparts, its off-platform marketplaces and its mobile apps. Its Marketplace platforms enable buyers and sellers to its global scale and continue investments in technology, marketing and customer service. Its eBay Money-Back Guarantee program allows buyers to obtain a refund if an item does not arrive, is damaged or faulty, or differs materially from its description, and applies to most purchases completed through payment methods. It develops intuitive user interfaces; buyer, seller and developer tools; and transaction processing, databases and network applications that enable its users to complete transactions on its Marketplace platforms. Its technology infrastructure simplifies the storage and processing of data, eases the deployment and operation of global products and services.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Acquisition Strategy: The acquisition of Depop aims to attract younger, fashion-forward consumers, expected to bring new customers to the platform and re-engage users who haven't purchased in over a year, driving future user growth and revenue.
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- Diversified Product Lines: eBay achieved significant year-over-year gains in automotive parts and fashion, and this diversified product range provides more momentum for its e-commerce business, justifying the stock's continued rally.
See More
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- Expanding User Base: eBay currently boasts 136 million active buyers, and the growth in online ads can enhance average revenue per user while potentially attracting new customers or re-engaging those who haven't purchased in over a year, thus driving long-term growth.
- Diversified Product Lines: In addition to collectibles, eBay has seen significant year-over-year gains in automotive parts and fashion, which diversifies its offerings and enhances its competitiveness in the e-commerce market, providing sustained momentum for its stock price.
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See More
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- Market Expansion Plans: Vinted aims to replicate its successful model in the U.S. market and other categories, facing challenges like high shipping costs, but is building its competitive edge through infrastructure developments like Vinted Go and Vinted Pay.
See More
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- Secondhand Market Expansion: Vinted achieved nearly 50% sales growth in 2025, with users saving €21.6 billion on fashion, paying an average of 72% less than retail prices, indicating strong demand and success of its business model.
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See More
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- Competitive Landscape Consideration: As a Gen Z-focused fashion resale platform competing in the 'recommerce' space, Depop's acquisition is under CMA review, which may lead to conditional approvals or deeper investigations, affecting eBay's market positioning.
- Review Deadline Set: The CMA's Phase 1 verdict is due by August 6, 2026, by which time it must either approve the deal, impose conditions, or escalate to a Phase 2 investigation, potentially delaying or restructuring the acquisition.
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See More
