Travel and leisure stocks are slammed again as recession worries weigh
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Investors bid down travel and leisure stocks once again as recession fears continue to weigh on the outlook for the back half of the year and 2023. With the second quarter earnings season set to start in a few weeks, anxiety has increased that guidance updates will disappoint.
Selling pressure continued on vacation-related names like Airbnb (NASDAQ:ABNB) -5.54%, Norwegian Cruise Line Holdings (NCLH) -5.14%, Booking Holdings (BKNG) -4.95%, Sonder Holdings (SOND) -4.85%, Trip.com (TCOM) -4.59%, Carnival Corporation (CCL) -4.55%, Century Casinos (CNTY) -4.21%, Expedia Group (EXPE) -3.63%, Monarch Casino & Resort (MCRI) -3.25%, and Hyatt Hotels (H) -2.95%.
Airline stocks were also sent reeling in early trading on Thursday, led by JetBlue Airways (JBLU) -5.83%, American Airlines Group (AAL) -4.37%, and Hawaiian Holdings (HA) -3.75%.
Leisure stocks such as Peloton Interactive (PTON) -3.70%, Drive Shack (DS) -3.57%, SeaWorld Entertainment (SEAS) -3.17%, and Six Flags Entertainment (SIX) -3.10% were also in reverse.
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