Why Shares of American Airlines Are Rocketing Higher Again Today
Shares of American Airlines Group (NASDAQ: AAL) opened on Friday up 30% after climbing 40% on Thursday. Investors are getting excited about a recovery in the travel sector, but they appear to be getting ahead of themselves.
It has been a strange, turbulent year for airline stocks.
The sector was hit hard by the COVID-19 pandemic, which caused carriers to slash flights and scramble to avoid liquidity issues. Shares of American and other airlines lost more than half of their value beginning in early February on fears there would be a number of bankruptcies in the sector.
Source Fool.com
