Why Shares of JetBlue Were Up Today
Shares of JetBlue Airways (NASDAQ: JBLU) climbed nearly 10% on renewed investor confidence that airline stocks can weather a COVID-19 coronavirus-induced travel slump. Many of JetBlue's larger rivals are following that company's lead and bringing down capacity, lessening the risk of a price war.
The airlines have been hard hit during the coronavirus sell-off as investors react to travel demand all but evaporating in areas where the outbreak is most prevalent. Selling has increased in recent days with concerns that the weakness will last through the key spring break and summer vacation travel seasons. JetBlue shares have lost nearly 30% of their value year to date.
Image source: Jetblue.
Source Fool.com
