The White House provided an upbeat vaccine forecast on Tuesday night, pushing airline stocks higher on Wednesday. American Airlines Holdings (NASDAQ: AAL) is leading the charge, up as much as 5% on Wednesday.
American and other airlines suffered through a difficult year in 2020. The pandemic caused demand for air travel to crater, causing the entire industry to lose money last year.
It's hard to make a bull case for the industry without the pandemic ending, and the stocks have soared higher in recent weeks on steady progress rolling out vaccines.
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Why American Airlines Stock Is Up Today