Why Southwest Airlines and United Airlines Stocks Tanked Today
Shares of major American airlines got pummeled on Wednesday after Reuters detailed how the industry as a whole is burning through $10 billion a month as its most of its airplanes remain grounded due to a combination of stay-at-home orders and travelers' reluctance to sit in a confined space for hours surrounded by strangers.
In Wednesday's trading, shares of American Airlines (NASDAQ: AAL) and Delta Air Lines (NYSE: DAL) got off relatively easy, down only 2.7% and 3.3%, respectively. But United Airlines (NASDAQ: UAL) lost 5%, and Southwest Airlines (NYSE: LUV) was down 5.6%.
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Source Fool.com
