Wall Street Week Ahead: Investors look for buys as virus fears crush travel stocks

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 41 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 66%

Business News News

Business Business Latest News,Business Business Headlines

Bargain-hunting investors are eyeing the shares of airlines, hotels, cruise lines and other companies that have been among the worst-hit by the ...

NEW YORK: Bargain-hunting investors are eyeing the shares of airlines, hotels, cruise lines and other companies that have been among the worst-hit by the coronavirus outbreak.

Noah Hamman, chief executive of Advisorshares, an investment firm that focuses on actively-managed exchange-traded funds, is adding to positions in airlines that focus on regional and domestic travel, such as Hawaiian Holdings Inc and SkyWest Inc , a bet that these carriers have better prospects of surviving a travel slowdown because they are more often used for regional and domestic trips.

Investors in the coming week will be looking for signs of how much the virus' spread has accelerated in the United States and other regions. Sectors hard hit by the outbreak are likely to join a broader market selloff if it appears the outbreak is spreading faster than expected. “If you want to be able to travel, you have to use these carriers because there are so few of them," he said.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in BUSİNESS

Business Business Latest News, Business Business Headlines