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As the November 8 date and return of international visitors to the U.S. is imminent, travel-related stocks are rising again, according to CNBC.
Airlines, online travel agencies and home-sharing companies are gaining ground in the market, while companies that gained shares over the past year during the pandemic, what CNBC calls shares “stay at home “, like Peloton, Zoom and Netflix, fell this past. week.
Translation? The desire to travel is there; being repressed at home is out.
The numbers don’t lie.
According to CNBC, Expedia jumped 16 percent Friday; Its fellow online travel agency Booking Holdings rose seven percent and Airbnb shares rose 13 percent after reporting a 280 percent increase in profits.
American Air Lines, Delta and Southwest also had a fantastic week, raising the share price by 14, 13 and 10 percent, respectively.
Airlines like Delta showed a strong third quarter when they announced their gains.
“We’ve seen it everywhere,” Expedia CEO Peter Kern told analysts in a earnings call Thursday, according to CNBC. Expedia recorded a 97 percent increase in revenue over the previous year. “Cities are picking up. International has picked up. Virtually every area has experienced growth.”
By contrast, Peloton, the home cycling training machine, saw a 35 percent drop in the stock price on Friday after higher-than-expected quarterly losses.
“We anticipate that fiscal year 2022 would be a very difficult year to predict, given the unusual comparisons of a year ago, the uncertainty of demand amid the reopening of economies and supply chain constraints and pressures on raw material costs, ”CEO John Foley said in a letter to shareholders.
Netflix was down 6.5 percent this week; Zoom fell more than six percent Friday and Doordash lost four percent.
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