Airline stocks soared higher on Monday on news of a big development in the race for a COVID-19 vaccine, but the stocks were split between modest winners and a handful of losers on Tuesday.
It was the airlines under pressure that were covering the most ground, with shares of Hawaiian Holdings (NASDAQ: HA) down 9% as of 2:15 p.m. EST, shares of Spirit Airlines (NYSE: SAVE) off by 6%, and American Airlines Group (NASDAQ: AAL) down 4.5%.
The airline sector has been devastated by the pandemic, and it's hard to come up with a bull case for the stocks absent a vaccine and a return to normalcy. So, it made sense for the stocks to soar higher on the positive developments out of Pfizer released Monday.
For further details see:
Why Shares of American Airlines, Spirit Airlines, and Hawaiian Are Down Today