Why Shares of Heico Were Up in May
Shares of Heico (NYSE: HEI) gained 15% in May, according to data provided by S&P Global Market Intelligence, after the aerospace supplier delivered quarterly results that show it is holding up better than most during the COVID-19 pandemic.
Commercial aerospace stocks have been hit hard by the pandemic, with investors fearing that a dramatic slowdown in travel will lead to airlines buying fewer planes and fewer spare parts for years to come. Shares of Boeing have lost half their value in 2020, and many of the company's key suppliers have fallen as well.
Image source: Getty Images.
Source Fool.com
