Why Travel Stocks Popped on Wednesday

Shares of travel-related stocks jumped on Wednesday as the market got another round of good news about a COVID-19 vaccine. Shares of TripAdvisor (NASDAQ: TRIP) jumped as much as 10.4%, Liberty TripAdvisor (NASDAQ: LTRPA) was up as much as 14.5%, Marriott International (NASDAQ: MAR) rose 8.8%, and Park Hotels & Resorts (NYSE: PK) climbed up to 14.1% in trading today. Shares were up 9.4%, 13.8%, 7.8%, and 13.1%, respectively, at 3:10 p.m. EDT. 

The biggest news that came out late yesterday was Moderna announcing positive results from its Phase 1 mRNA COVID-19 vaccine trial. The company will begin Phase 3 trials July 27 and hopes to have final approval to give the vaccine to people sometime later in 2020. 

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Source Fool.com