Today, investors in Nok Airlines (OTCMKTS:NOKPF) and NOKPF stock are seeing a lot of green. Shares of NOKPF are currently up nearly 40% on very heavy volume as investors pile into this reopening trade.
Indeed, as one of the most popular airlines in Thailand, investors are betting on a surge in vacation travel in the Asia Pacific region. Losses from last year have continued to pile up, due to the pandemic. Accordingly, investors have largely fled this stock until recently as an attractive pandemic reopening play.
A number of news items have recently arisen leading investors back into this stock. Indeed, Nok’s little-known status has made this penny stock one that has garnered outsized attention of late.
Let’s dive into the key catalysts driving NOKPF stock higher today.
NOKPF Stock Soaring on Travel Resumption Announcement
Recent announcements around the reopening of the island of Phuket, a popular international tourist destination, have taken investors in NOKPF stock on a nice ride today. It appears investors are pricing in a resurgence of tourism to this hot tourist destination.
According to recent reports, Thailand regulators have mandated that 70% of locals be vaccinated to avoid quarantine requirements for tourists. With 74% of the local population vaccinated, it appears reopening is in full swing. Visitors are now able to roam the island free, following a negative Covid-19 test within 24 hours upon arrival.
As tourism comes back to normal globally, investors will begin looking at reopening plays such as Nok Airlines. Indeed, this stock provides investors with high leverage to the global travel reopening trade. Accordingly, expectations are that NOKPF stock could see some positive momentum in the near-term.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
