Four Airline Stocks Lost $22 Billion in Value in Prior 7 Trading Sessions

Dow Jones Industrial Average Versus Airline Stocks, February 19 through February 28, 2020

Dow Jones Industrial Average Versus Airline Stocks, February 19 Closing Price through Close on February 28, 2020

By Pam Martens and Russ Martens: March 2, 2020 ~

The Dow Jones Industrial Average closed with a whopping 1293 points in the green today, after losing 3600 points last week. (It looked like a classic short squeeze driving up the market today.) But despite the monster move up in stocks, two of the major airline stocks closed in the red today: American Airlines and United Airlines. Delta and Southwest closed in the green.

All four airlines, however, have been on a serious losing streak of late as fears over the coronavirus have spread. From their close on Wednesday, February 19, through last week, the four airlines have lost over $22 billion of their share value during those seven trading sessions.

The biggest loser in percentage terms was American Airlines. It lost 34 percent of its market value or $4 billion. United Airlines lost 24.8 percent or $4.88 billion while Delta gave up 21 percent or $7.9 billion.

The mildest rout among the four was Southwest Airlines, which lost 18.6 percent of its common share value or $5.5 billion.

Bookmark the permalink.

Comments are closed.