Good news for travelers this holiday season. It seems like Southwest Airlines will keep their ticket prices pretty low as the year ends, despite the influx of travelers flying for the holidays. The great news for consumers comes at a cost to the company; the airline's stocks have tanked, plunging 10 percent on Tuesday and making it the worst performer in the S&P 500, according to CNN Money.
The plunge in the company's stock prices was quite a surprise, especially since Southwest Airlines' shares have been on fire since the second half of 2015. From a 52-week low of $31.36 on July 1, the company's stocks have continually surged, peaking at $51.34 on Monday, reports FOX Business .
One day later, however, the company's stocks plummeted. Southwest Airlines was not the only airline that was affected by the sudden downturn, as shares of American Airlines, Delta Air Lines and United Continental have taken a dive as well, according to Market Watch.
Analysts point to Southwest's disappointing update to its Q4 unit revenue guidance as the catalyst behind the sudden drop in the company's stocks. Due to the stock dramatically outperforming its peers since July, even a minor setback such as the results of the Q4 unit revenue guidance had an adverse effect on the company's share prices.
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