5 Biggest Losers Today

3. United Airlines Holdings, Inc. (NASDAQ:UAL)

Number of Hedge Fund Holders: 35

Shares of United Airlines Holdings, Inc. (NASDAQ:UAL) slid more than five percent after the opening bell on Wednesday. The drop came after the company grounded 25 of its Boeing 777-200 aircrafts on missing the required inspections.

United Airlines Holdings, Inc. (NASDAQ:UAL) had to cancel nearly 18 flights after realizing the airplanes’ had not undergone inspections related to wing edges. The company conveyed the issue to the Federal Aviation Administration (FAA) after an internal audit.

Meanwhile, the FAA said it is investigating events that resulted in missed inspections. On the other hand, United Airlines Holdings, Inc. (NASDAQ:UAL) said it is collaborating with the transportation authority to complete the inspections to avoid further flight cancellations.