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Why Delta's Stock Is Trading Lower Today

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Why Delta's Stock Is Trading Lower Today

Delta Air Lines (NYSE: DAL) shares are trading lower on Wednesday.

Shares of several airline companies are trading lower amid market weakness as macro concerns continue to grow as a result of the coronavirus pandemic. The sector has been hurt recently by the global coronavirus outbreak, which has heavily hampered travel demand.

Delta is cutting domestic capacity by 10% to 15% and international by 20% to 25%, freezing hiring, offering voluntary leave options to staff and looking at early retirement of older aircraft, reports Reuters.

Delta Air Lines shares were trading down 16.77% at $23.77 on Wednesday. The stock has a 52-week high of $63.44 and a 52-week low of $19.10.

 

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