This stock is done. Has not closed green once in over a month. This will be at $7. That #$%$ Cramer fooled everyone. There will be too much competition for them to grow forcing them to keep reducing their rates to survive.
IMO VLRS has a competitive advantage in Mexico and has proven itself able to expand and grow its market. Who know how low the stock price can go, but in the end, earnings will drive the stock price. VLRS should be announcing its quarterly earnings sometime this week, according to the NASDAQ website the estimated announcement date was today.
Not over by a long shot. Maybe they go bankrupt someday far in the future. But bad price action over a month because of a rate war doesn't mean this company is done. Aeromexico has a bad price structure to win this one. VLRS is still profitable, just less so. Plus the emerging market meltdown has only made things worse. Don't let short term moves in a bad market affect your long term decisions.