Is This an Indication of Further Gains?
United Airlines (UAL) shares soared 26.1% in the last trading session to close at $70.83. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock’s 26.2% loss over the past four weeks.
The stock gained following President Donald Trump’s announcement that he would pause the “reciprocal” import taxes for 90 days. The President said he felt the pause was needed because “more than 75 countries” had contacted his administration to make trade deals. Airline stocks were recently crushed by economic uncertainties and the resultant reduction in consumer and corporate confidence. The uncertainty hurt domestic air travel demand.
This airline is expected to post quarterly…
