Southwest Airlines Stock Soars on Elliott Investment Stake

Elliott Investment Management revealed a massive stake in Southwest Airlines and plans to push for several changes. Here's what you need to know.

 Southwest Airlines Boeing 737-800 prepares for takeoff at Los Angeles International Airport.
(Image credit: Getty Images)

Southwest Airlines (LUV) stock jumped more than 7% out of the gate Monday. The upside comes after The Wall Street Journal on Sunday reported that activist investor Elliott Investment Management has built a stake worth nearly $2 billion in the air carrier.

Elliott plans to engage with the management team at Southwest and push for changes to reverse the airline's recent underperformance, the WSJ said

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Joey Solitro
Contributor

Joey Solitro is a freelance financial journalist at Kiplinger with more than a decade of experience. A longtime equity analyst, Joey has covered a range of industries for media outlets including The Motley Fool, Seeking Alpha, Market Realist, and TipRanks. Joey holds a bachelor's degree in business administration.