Why Booking Holdings Stock Shot Up 8% Today

Shares of online travel booking giant Booking Holdings (NASDAQ: BKNG) were up 8% today as of 12:50 p.m. EST. The stock, like others that rely on vacation activity and business travel, has been whipsawed by news of the rapid spread of the omicron coronavirus variant. Fear has mounted that another wave of the pandemic could lead to travel restrictions, which would put a damper on broader economic recovery. 

However, upbeat news over the weekend from medical advisor Dr. Anthony Fauci is the likely reason for the recent uptick in Booking Holdings. Fauci and other health officials said early research indicates omicron might be less severe than the delta variant, although it's still too soon to tell for certain.  

Image source: Getty Images.

Continue reading

Source Fool.com