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By Editor, Bear Market
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.
Second, Trading volume was a massive 423.6 million shares, breaking Thursday one-day record total of 399.4 million shares. The stock has run up 77.1% this week, or more than double the previous record for a weekly gain of 35.3% for the week ended March 27, 2020.
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 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.
Regards,
Editor
Team Bear Market
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