TCOM - Why Travel Stocks Jumped This Week
Travel stocks, including TripAdvisor (NASDAQ: TRIP) , Booking Holdings (NASDAQ: BKNG) , and Trip.com Group (NASDAQ: TCOM) gained as much as 11% through market close on Thursday this week before settling to between 5% and 7% returns, according to data provided by S&P Global Market Intelligence . The broader market was roughly flat over this time while other travel-related sectors like airlines jumped.
The rally was powered by optimism about an approaching end to the current surge in COVID-19 outbreaks and a resumption of the travel industry 's early summer recovery.
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Why Travel Stocks Jumped This Week