3 Things American Airlines Stock Bulls Need to Happen Soon
The coronavirus pandemic has had a huge impact on the entire global economy, and the airline sector in particular has suffered from travel restrictions and efforts to slow the spread of contagion. American Airlines Group (NASDAQ: AAL) lost more than 70% of its value between mid-February and mid-May as air travel slowed to a near-standstill. From there, though, American Airlines stock more than doubled as hopes emerged for a potential recovery.
The airline industry has been risky for investors throughout its history, with numerous bankruptcies over the years. Less than a decade ago, American itself was in bankruptcy proceedings, but shareholders are hopeful that it can avoid the same fate this time around. For American to mount a true rebound, it needs to work toward making three favorable things happen.
Image source: American Airlines.
Source Fool.com