Travel stocks rally, stay-at-home companies plunge as pandemic wanes and tourism rebounds
2021-11-06 07:51:43 source：CNBC
November 5, 2021
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.
“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.”
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