Hawaiian Punch

Hawaiian Airlines stock, grounded for 18 months during bankruptcy reorganization, began trading again on June 21. It has been a bumpy ride. Rumors soon surfaced that the airline would be bought by USAir. Says Hawaiian CEO Bruce Nobles: "I couldn't begin to tell you how that rumor got started. It made no sense." No matter: Hawaiian's stock went from less than $2 to $13.50. After denials from both carriers, shares have tumbled to $7.

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