AZUL - Why Azul Shares Are Down Today
The economic news out of Brazil keeps getting worse, and investors are responding by fleeing from Brazilian stocks. Shares of Azul (NYSE: AZUL) traded down more than 8% late Friday morning, continuing a downward plunge that has seen the shares fall 26% this week.
Azul seemingly can't catch a break right now. The company, along with most airline stocks , suffered last year as the pandemic ate into global travel demand. Azul survived the crisis relatively unscathed and has positioned itself to acquire a rival out of bankruptcy and build its market share in Brazil, but new headwinds are emerging.
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Why Azul Shares Are Down Today