Why Shares of United Airlines Are Falling Today
Shares of United Airlines Holdings (NASDAQ: UAL) traded down nearly 4% on Tuesday afternoon. Earlier in the day, the airline announced it was raising added cash, but the stock appears to be moving more on fears about a resurgence in the coronavirus than they are based on company-specific news.
Airlines have been hit hard by the COVID-19 pandemic, with shares of United down nearly 60% year to date. The stock was down more than 75% earlier this year as investors worried a 90%-plus drop in travel demand would force airlines into bankruptcy, but the stocks have recovered somewhat as demand has bounced off its lows.
Image source: United Airlines.
Source Fool.com
