Why Shares of Airline Stocks Are Falling Today
The airline sector was hit by COVID-19 coronavirus-related concerns again on Thursday, with shares of Alaska Air Group (NYSE: ALK) and Spirit Airlines (NYSE: SAVE) each down more than 10% in early trading.
The losses extended well beyond those two, however, with shares of American Airlines Group (NASDAQ: AAL), Southwest Airlines (NYSE: LUV), Delta Air Lines (NYSE: DAL), Hawaiian Holdings (NASDAQ: HA), and United Airlines Holdings (NASDAQ: UAL) all down more than 5%.
The industry seems certain to be hit hard by an outbreak-related slowdown in travel. But until the extent of that hit can be quantified, trying to call a bottom in these stocks is like trying to catch a falling knife.
Source Fool.com
