Assessment: Pandemic? What pandemic? …
As travel industry executives tout the rapid resurgence of tourism and entertainment, the pandemic stock portfolio is getting turned upside down.
Airlines stocks are rallying alongside online booking sites, ride-hailing companies and Airbnb, after earnings reports showed clear signs of a recovery in travel. At the same time, stay-at-home stocks are sagging as borders reopen and health experts indicate that an end to the Covid-19 pandemic could come sooner than expected.
“When He opened the third seal, I heard the third living creature say, “Come and see.” So I looked, and behold, a black horse, and he who sat on it had a pair of scales in his hand” Rev. 6:5
“We’ve seen it everywhere,” Expedia CEO Peter Kern told analysts on an earnings call Thursday after his company reported a 97% jump in revenue from a year earlier. “Cities are picking up. International has picked up. Virtually every area has seen growth.”
Expedia shares soared 16% on Friday and rival Booking Holdings jumped over 7%. Airbnb surged 13% and closed out its best week since its IPO late last year, after the home-sharing company reported better-than-expected revenue and a 280% increase in profit.
Airlines are finally back Read More @ CNBC HERE