Diamonds and Dogs
American Airlines (AAL) raising bag fees. The east coast airliner is up 4% after raising their first checked bag fee to $30 and the second bag fee to $40. The hike is only $5, but it has added $800M in market cap. The hike in fees now matches most other airliners. American Airlines is also donating $300,000 to the American Red Cross and an additional $300,000 to the North Carolina Community Foundation Disaster Relief Fund to ease the burdens that have been placed upon thousands of Carolinians as Hurricane Florence made landfall last week.
Roller-coaster week for the cannibas sector. Canadian company, Tilray (TLRY) is down 26% today after rallying 150% from Monday to Wednesday. Earlier this week the U.S. Drug Enforcement Administration has signed off on its plan to import a marijuana product from Canada in order to test its effectiveness in treating essential tremor, a neurological disease. Now a Florida Republican is looking to block it from providing the substance for use in US clinical trials. Tilray was halted at least three times on Wednesday due to high volume. That may have signaled a top.