Airline stocks set to soar after Labor Day or lose altitude? This top analyst reveals her big call
Airline stocks may have too much altitude underneath them given the ongoing realities of the COVID-19 pandemic.
told Yahoo Finance’s The First Trade on whether the big run-ups in the sector of late are warranted.
To be sure, the speculators descended on the battered airline space in August.
The moves come despite the prospect for more airline industry layoffs this fall, dreadful third and fourth quarters on tap and no fresh round of government stimulus. Next up could be renewed bankruptcy chatter, which could place pressure on airline stocks.
Says Becker, “I don’t think what you saw last month necessarily reflects what’s happening in real-time. I think what you saw last month was some hope that the government would step in and provide additional financing to the airlines through March of next year, which was obviously still pending.”
Indeed the raw data on travel underscores Becker’s concern on airline stocks amid the pandemic.
out of the Transportation Security Administration came in at 711,178, down sharply 2.3 million for the same week a year ago. The closely watched TSA data showed little improvement from the start of August until the close of the month.” data-reactid=”38″>Checkpoint numbers for August 31 out of the Transportation Security Administration came in at 711,178, down sharply 2.3 million for the same week a year ago. The closely watched TSA data showed little improvement from the start of August until the close of the month.
new data Monday from the industry trade association the American Hotel & Lodging Association (AHLA).
@BrianSozzi and on LinkedIn.” data-reactid=”40″>Brian Sozzi is an editor-at-large and co-anchor of The First Trade at Yahoo Finance. Follow Sozzi on Twitter @BrianSozzi and on LinkedIn.
Twitter, Facebook, Instagram, Flipboard, SmartNews, LinkedIn, YouTube, and reddit.” data-reactid=”51″>Follow Yahoo Finance on Twitter, Facebook, Instagram, Flipboard, SmartNews, LinkedIn, YouTube, and reddit.
