Why American Airlines Stock Gained Altitude in February
Shares of American Airlines Group (NASDAQ: AAL) soared 22% higher in February, according to data provided by S&P Global Market Intelligence, as investors continue to gain confidence that the worst of the pandemic is now behind us.
American and other airline stocks had a difficult time in 2020. The pandemic brought global travel to a halt and caused airlines to burn through billions in cash as revenue dried up.
The industry survived the worst of the crisis, thanks to both government assistance and private fundraising efforts, and investors are growing increasingly optimistic that better days are ahead. American shares rallied in February on continued good news about COVID-19 vaccines and growing hope that leisure travelers will return in time for the summer travel season.
Source Fool.com
