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4 Travel Stocks to Avoid with Another Spike in Coronavirus Cases -Breaking

by Mike Robinson

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© Reuters. Four Travel Stocks You Should Avoid With Another Spike In Coronavirus Cases

Due to recent outbreaks of the infectious omicron variant, COVID-19 is likely to impact travel and tourism this holiday season. In the short-term, this, along with market volatility makes Carnival (NYSE) (CCL), MakeMyTrip(MMYT), Wheels Up, (UP), Lindblad Expeditionss (LIND), overvalued travel stocks (CCL) and Wheels Up (UP) vulnerable to price drops. It is best to avoid these stocks now. The industry has seen solid improvements in the vaccine front and a decline in COVID-19 cases. There was also a gradual lifting of an international travel ban. In advance of holiday season, the industry saw increased hotel and travel bookings. The discovery in South Africa of the transmissible Omicron variant has led to travel restrictions being reimposed. This is because COVID-19 incidences are rising globally, despite increased vaccination rates. The holiday season is likely to be very difficult for tourism and travel industries.

Given this backdrop, overvalued travel stocks Carnival Corporation & plc (CCL), MakeMyTrip Limited (MMYT), Wheels Up Experience Inc. (UP), and Lindblad Expeditions Holdings, Inc. (NASDAQ:) are susceptible to pullbacks in the near term. They should be avoided immediately.

Carnival Corporation & plc (CCL)

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