AMR's 50% surge today is odd given the stock soon will be worthless, analysts say. The only case...

|By:, SA News Editor

AMR's 50% surge today is odd given the stock soon will be worthless, analysts say. The only case of an airline using old stock when coming out of bankruptcy appears to be Hawaiian Holdings (HA), but Hawaiian was profitable and had equity; AMR hasn't turned a profit in years and has a "huge negative net worth." Even if US Airways (LCC) buys AMR, as is speculated, AMR likely would first issue new stock.