Uniteds stock is set to fall 2% and wipe $500 million off the airlines market cap [View all]

[BigBearJohn]

Shares in United Continental Holdings Inc. were falling 2.4% in premarket trading on Tuesday, as the airline continued to draw flak for having a passenger forcibly dragged off a plane Sunday.

If the carrier’s stock drops by that much at the opening bell, United UAL, -2.10% will have about $500 million wiped off its market capitalization. The company’s market cap is currently $22.5 billion, according to FactSet data.

Earlier Tuesday, United shares had been down by as much as 6% premarket, and a fall of that magnitude would erase $1.4 billion from the company’s market cap.

SOURCE: http://www.marketwatch.com/story/uniteds-stock-is-set-to-fall-5-and-wipe-1-billion-off-the-airlines-market-cap-2017-04-11

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