The Virgin Australia share price just slipped back below IPO levels. Should I buy shares today?
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The Virgin Australia Holdings Ltd (ASX: VGN) share price is losing altitude today.
Shares in the recently listed ASX airline stock, and Qantas Airways Ltd (ASX: QAN)’s competitor, closed on Friday trading for $2.98. In afternoon trade on Monday, shares are swapping hands for $2.87 apiece, down 3.7%.
For some context, the All Ordinaries Index (ASX: XAO) is down 0.3% at this same time.
With today’s retreat, the Virgin Australia stock has now dipped below the airline’s initial public offering (IPO) price for the first time since listing on 24 June.
So, should I buy the dip on the ASX airline stock today?
Is the Virgin Australia share price back in bargain territory?
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