As the November 8 date and the return of international visitors to the United States looms, travel-related stocks are soaring again, according to CNBC.
Airlines, online travel agencies, and home-sharing companies are all gaining in the market, while companies that have gained share in the past year during the pandemic – what CNBC calls “stay-at-a-glance” stocks. home ”like Peloton, Zoom and Netflix – have fallen this past week.
In fashion now
Translation? The desire to travel is there; being turned back home got out.
The numbers don’t lie.
According to CNBC, Expedia jumped 16% on Friday; Another online travel agency, Booking Holdings, jumped 7% and Airbnb shares rose 13% after reporting a 280% increase in profits.
American Air Lines, Delta and Southwest also had a fantastic week, rising 14%, 13% and 10% in share price respectively.
Airlines like Delta posted a strong third quarter when they reported their results.
“We’ve seen it everywhere,” Expedia CEO Peter Kern told analysts on a earnings conference call Thursday, according to CNBC. Expedia reported a 97% increase in revenue over the previous year. “Cities are picking up. The international has resumed. Virtually all areas have experienced growth.
In contrast, Peloton, the home cycling training machine, posted a 35% drop in its share price on Friday following larger-than-expected quarterly losses.
“We expected fiscal 2022 to be a very difficult year to predict, given unusual comparisons to the previous year, uncertainty in demand amid reopening economies and chain constraints. supply and commodity cost pressures widely reported, ”Chief Executive Officer John Foley said in a statement. letter to shareholders.
Netflix fell 6.5% this week; Zoom fell more than six percent on Friday and Doordash lost four percent.