Why Marriott, Avis, and Azul Stocks Dropped Today
Stocks tied to the travel industry got trounced in early trading Monday and remained down as of 12:20 p.m. EDT. Currently, shares of hotel chain Marriott International (NASDAQ: MAR) are down 2.5%, and the stock of car rental company Avis Budget Group (NASDAQ: CAR) is off 2.2%. In the realm of airlines, Brazilian airline Azul S.A. (NYSE: AZUL) is falling a whopping 8.8%.
There was no bad news affecting any of these three stocks specifically. In the case of Avis Budget, today's announcement that Joe Ferraro has been confirmed as permanent CEO probably qualifies as good news, since it lends investors some certainty about who's running the show.
Image source: Getty Images.
Source Fool.com
