Thanks to the slowing down of COVID-19 hysteria, American Airlines Group Inc. (AAL) shares were expected to break two new records today. First for record volume and second for weekly gains.
AAL stock popped 10.9% in afternoon trading and trading volume saw a whopping 389.8 million shares with just a little under an hour left before the end of the trading day.
American Airlines is now up 76.6% for the week.
AAL’s surge has surprised many, no more than Raymond James analyst Savanthi Syth who predicted the airlines to underperform. Additionally, It’s important to note that the stock has still shed 35.4% year to date.