American Airlines (NASDAQ:AAL) stock is on the rise Tuesday as a broader recovery of airline stocks fuels its gains.
The big news here is that airline companies are increasing revenue outlooks for March. That comes as oil prices start to retreat off of highs, which is bringing down the price for fuel. That’ll give travel companies more breathing room for the month.
It’s also worth highlighting that airlines are seeing an increase in demand for passengers that want to travel. That’s another positive sign as airlines have been suffering these last couple of years due to the Covid-19 pandemic.
Funnily enough, that increased demand comes despite China revealing increasing cases of the coronavirus. While the fear of lockdowns could pull stocks back down, that doesn’t seem to be happening today.
Another factor to point out is airline stocks are recovering after a rough time of it last week. This saw several companies in the travel sector see their stocks slip. That was the result of rising fuel concerns amidst the ongoing war between Russia and Ukraine.
The rising price of AAL stock comes alongside heavy trading of its shares. As of this writing, more than 42 million shares of the stock have changed hands. That’s already matching the company’s daily average trading volume and we haven’t even hit noon yet.
AAL stock is up 9.2% as of Tuesday morning.
There’s more stock market news for investors to dive into below!
InvestorPlace is home to all the latest stock market news that traders need to know about on Tuesday! That includes what’s happening with AMC (NYSE:AMC) stock, GameStop (NYSE:GME) stock, and Coupa Software (NASDAQ:COUP) stock today. You can find all of that info at the following links!
More Tuesday Stock Market News
- AMC Stock Alert: 8 Things to Know About the $28M AMC-Hycroft Deal
- Why Is GameStop (GME) Stock Up Today?
- Is COUP Stock a Buy After 30% Plunge? 3 Analysts Weigh In on Coupa Software.
On the date of publication, William White 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.
