After several years of massive gains, Spirit Airlines (NASDAQ: SAVE) shares plunged during 2015 as the ultra-low-cost carrier started to suffer from price matching by larger rivals. The stock ultimately fell by roughly 60%.
Spirit Airlines stock finally bottomed out in late 2015. Since then, it has rallied more than 50% and is approaching the $55 level. Yet that still leaves the stock well below its all-time high of $85.35.