Why These Nasdaq Travel Stocks Jumped Wednesday
The Nasdaq Composite (NASDAQINDEX: ^IXIC) has suffered more than most other major market benchmarks, having dropped enough to meet the official definition of a bear market earlier this week. However, on Wednesday, investors are feeling a lot better about the market's prospects. That has the Nasdaq up more than 3% as of 1 p.m. ET.
Among the biggest winners on the Nasdaq early Wednesday afternoon were travel stocks. Many companies in the travel industry have been under pressure throughout the past couple of years, and the recent escalation of tensions between Russia and Ukraine into a full-blown invasion made investors feel a lot less comfortable about the prospects for the immediate future. Particularly notable were the moves higher in Booking Holdings (NASDAQ: BKNG) and Expedia Group (NASDAQ: EXPE), especially given how much they had fallen in just the past couple of weeks.
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Source Fool.com
