Why Shares of Delta Are Higher Today
Shares of Delta Air Lines (NYSE: DAL) opened more than 5% higher on Tuesday morning following a disclosure that Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) had raised its stake in the airline during last week's sell-off.
Delta and other airline stocks have been battered during the COVID-19 coronavirus-related sell-off, as investors worry that the virus will eat into travel demand heading into the peak U.S. summer vacation season. Delta and other airlines temporarily suspended flights to China and other regions hit hard by the outbreak, which will cut into results for at least the first half of 2020.
Delta shares lost about 20% of their value during the sell-off.
Source Fool.com
