Why Marriott International Stock Was Down Over 5% Today
Shares of Marriott International (NASDAQ: MAR) were 5.3% lower at the close of trading Monday as pricing for West Texas Intermediate crude oil collapsed and plunged into negative territory for the first time ever, suggesting travel, lodging, and resort operators would be in for especially difficult times.
The North American hotel industry has been crippled by the coronavirus pandemic, with occupancy rates falling to about 10%.
Image source: Marriott International.
Source Fool.com