SAVE - Why Airline Shares Are Taking Off Again Today
The "reopening trade" is on again on Monday, with investors encouraged by the progress of the stimulus bill and hopes that the pandemic will soon be behind us.
Airlines and other sectors that were beaten down as the virus spread last year are in rally mode, with shares of Mesa Air Group (NASDAQ: MESA) up 15%, and shares of United Airlines Holdings (NASDAQ: UAL) , American Airlines Group (NASDAQ: AAL) , Southwest Airlines (NYSE: LUV) , Spirit Airlines (NYSE: SAVE) , and JetBlue Airways (NASDAQ: JBLU) all up more than 5% apiece.
Airline stocks were among the hardest hit in the early days of the pandemic, with lockdowns and quarantines all but wiping out demand for travel. The industry survived the crisis, and the stocks have been on the rise since late fall as the COVID-19 vaccine rollout began.
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Why Airline Shares Are Taking Off Again Today