Why Airline Shares Are Up Today
The vaccine-inspired rally in airline stocks continued on Tuesday, with industry shares soaring on talk the first COVID-19 vaccine will soon be deployed.
American Airlines Group (NASDAQ: AAL) and United Airlines Holdings (NASDAQ: UAL) traded up as much as 10% on the day, while shares of Spirit Airlines (NYSE: SAVE) climbed more than 8%, and Delta Air Lines (NYSE: DAL), Southwest Airlines (NYSE: LUV), and JetBlue Airways (NASDAQ: JBLU) were each up more than 5% apiece during the trading day.
The airlines have been hit hard by the pandemic, but the stocks have been pushing higher so far in November on a steady flow of positive news concerning the development of a vaccine. Markets were up on Tuesday on word that Pfizer and BioNTech intend to file for an Emergency Use Authorization for their vaccine, meaning some high-risk individuals could be vaccinated as early as December.
Source Fool.com
