As the date of November 8 and the return of international visitors to the U.S. is imminent, 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 gained share in the last year during the pandemic - what CNBC calls 'stay-at-home' stocks like Peloton, Zoom and Netflix - fell this past week.
Translation? The urge to travel is in; being pent-up at home is out.
The numbers don't lie.
According to CNBC, Expedia jumped 16 percent on Friday; fellow online travel agency Booking Holdings jumped seven percent, and Airbnb's stock was up 13 percent after reporting a 280 percent increase in profit.
American Air Lines, Delta and Southwest also had a fantastic week, rising 14, 13 and 10 percent in share price, respectively.
Airlines like Delta showed a strong third quarter when it announced earnings.
"We've seen it everywhere," Expedia CEO Peter Kern told analysts on an earnings call Thursday, according to CNBC. Expedia reported a 97 percent jump in revenue from a year earlier. "Cities are picking up. International has picked up. Virtually every area has seen growth."
By contrast, Peloton, the home cycling workout machine, saw a 35 percent drop in share price on Friday following higher-than-expected quarterly losses.
"We anticipated fiscal 2022 would be a very challenging year to forecast, given unusual year-ago comparisons, demand uncertainty amidst re-opening economies, and widely-reported supply chain constraints and commodity cost pressures," Chief Executive Officer John Foley said in a letter to shareholders.
Netflix dropped 6.5 percent this week; Zoom fell over six percent on Friday, and Doordash lost four percent.
For the latest travel news, updates and deals, subscribe to the daily TravelPulse newsletter.
Topics From This Article to Explore
