Why Kevin O'Leary Shorted Airline Stocks
On CNBC's "Fast Money Halftime Report," Kevin O'Leary discussed why he shorted airline stocks.
As U.S. citizens start to get vaccinated, one would think the sentiment towards airlines should be more bullish. While that may be true, some investors believe the pandemic caused long-term changes in travel, specifically business travel.
O'Leary shorted airline stocks and said at least 20% of business travel is gone for a "very long time."
On the other hand, Stephen Weiss doesn't think the airlines will go down much, saying the market wants to be optimistic.
"If I were short, I'd short the cruise lines, not the airlines," said Weiss.
Major airline stocks include United Airlines (NYSE:UAL), Delta Air Lines (NYSE:DAL), Southwest Airlines (NYSE:LUV), American Airlines (NASDAQ:AAL), Spirit Airlines (NYSE:SAVE) and JetBlue Airways (NASDAQ:JBLU).
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