Their underlying conditions are horrible. Travel capacity is in the floor, there is nothing to support the notion that airlines will come back roaring to where they were pre-covid b/c demand is in the floor.
A lot of over-optimistic hype so that people can exit at a better price, $9-10 is far more realistic.
That means income revenue will be a whole lot lower --- any real value won't be seen until perhaps 2021. For the last 3 years AAL has slowly dwindled down from $50.
Even Jerome Powell said today that Travel/Entertainment are essentially dead this year and finding work in those areas will prove difficult. So while speculators are going to play around w/the stock... any real meaningful appreciation won't come until towards the end of the year but alas this is just my opinion.