As US reopens nears, travel stocks skyrocket

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With the Nov. 8 date and the return of international visitors to the United States looming, travel-related inventories are rising again, according to CNBC.

Airlines, online travel agencies, and home-sharing companies are all gaining in the market, while companies that have gained share in the past year during the pandemic – what CNBC calls “stay-at-a-glance” stocks. home ”like Peloton, Zoom and Netflix – have fallen this past week.

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Translation? The desire to travel is there; being turned back home got out.

The numbers don’t lie.

According to CNBC, Expedia jumped 16% on Friday; Another online travel agency, Booking Holdings, jumped 7% and Airbnb stock rose 13% after reporting a 280% increase in profits.

American Air Lines, Delta and Southwest also had a fantastic week, increasing their stock prices by 14%, 13% and 10% respectively.

Airlines like Delta posted a strong third quarter when they reported their results.

“We’ve seen it everywhere,” Expedia CEO Peter Kern told analysts on a earnings conference call Thursday, according to CNBC. Expedia reported a 97% increase in revenue over the previous year. “Cities are picking up. The international has resumed. Virtually all areas have experienced growth.

In contrast, Peloton, the home cycling training machine, posted a 35% drop in its share price on Friday following larger-than-expected quarterly losses.

“We predicted that fiscal 2022 would be a very difficult year to predict, given last year’s unusual comparisons, uncertain demand amid reopening economies and supply chain constraints. and widely reported commodity cost pressures, ”Managing Director John Foley said in a statement. letter to shareholders.

Netflix fell 6.5% this week; Zoom fell more than six percent on Friday and Doordash lost four percent.


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