Why Airline Shares Are Down Today
Airline stocks were in the red on Tuesday after some disappointing news about the Johnson & Johnson COVID-19 vaccine. The update shouldn't be enough to stall the much-anticipated reopening this summer, but it was enough to quell investor enthusiasm for at least one day.
Shares of Delta Air Lines (NYSE: DAL) and Spirit Airlines (NYSE: SAVE) traded down as much as 5% apiece. American Airlines Group (NASDAQ: AAL), which had some company-specific news, was down about the same amount.
Airline investors endured a miserable 2020 due to the pandemic, but the news has been much more upbeat so far in 2021. Fueled by hope that as a critical mass of Americans get vaccinated there will be pent-up demand for air travel, the stocks have soared higher in 2021.
Source Fool.com
