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While this could rapidly get overdone and turn JetBlue stock into a buy, the airline's share price has unsurprisingly fallen out of a tree at the opening yesterday, off a little less than 7% -- or about $150m in market cap:

click to enlarge

jblue

As a point of minor historical context, it's worth noting that the last time a major airline held a significant number of passengers hostage in a snowstorm was January 3, 1999. The offending airline was Northwest (NWACQ) , and it happened in Detroit, with something like 50 passenger-carrying planes trapped on the ground for as long as eight hours.

So, how did Northwest stock do on the news? Well, it fell 4% on the debacle, then proceeded to climb 7%, 5%, and 6% in the three subsequent trading days -- before tumbling back to the pre-storm levels.

nwa

Source: Post-Snowstorm Trading: Comparing JetBlue and Northwest