Why Shares of Travel Companies Are Up Today
Shares of travel-related stocks got a boost Thursday on fresh comments that the government was committed to stabilizing the airline sector, and optimism that economic activity could begin to normalize as soon as May.
Shares of Sabre (NASDAQ: SABR), which makes most of its money off of the airlines, climbed nearly 20% on Thursday, while auto rental specialists Avis Budget Group (NASDAQ: CAR) and Hertz Global Holdings (NYSE: HTZ) jumped as high as 21% and 15%, respectively. Travel-related businesses including Tripadvisor (NASDAQ: TRIP) and Expedia Group (NASDAQ: EXPE) also got a lift, with each company topping out at about 9% mid-day.
The stocks all fell back some as the day went on, following the trend of the broader market, but clearly after weeks of selling there is a fresh sense of optimism surrounding the travel sector.
Source Fool.com
