Why Shares of Brazilian Airline Azul Are Down Today
Azul (NYSE: AZUL) has held up pretty well through the pandemic compared to many of its Latin American rivals, with the Brazilian airline managing to avoid bankruptcy and in recent months rebounding off of its lows. At least one analyst believes the rally has gone about as far as it can, putting pressure on the shares on Tuesday.
Azul stock is down 7.3% as of 3:55 p.m. EDT.
Azul and other airlines have seen demand plummet due to the pandemic, but the company has the benefit of support from its government and a strong enough balance sheet that it might not even need the help.
Source Fool.com
