Days after Warren Buffett announced that he had ditched his holding in airline stocks, Alaska Air Group (NYSE: ALK) reported it’s first-quarter financial results.
ALK stock rose 6% immediately after the announcement as the company posted narrower losses than expected. The stock has plunged 53% in the trailing 12 months.
“The impacts of COVID-19 on our business have been unprecedented. Demand deterioration began in February, and in March cancellations overwhelmed new bookings. Today demand remains over 90% below normal levels,” the company said in a statement.
The massive slowdown in the IPO market continued in the second half as the challenges posed by high inflation and interest rate hikes weighed on investor confidence. Meanwhile, there is
The automotive sector is one of the worst affected by the combination of high inflation and rising interest rates. Consumers have become more cautious and are prioritizing their purchases with
The IPO market has witnessed muted activity this year, and things don’t seem to have improved in the second half. The upcoming public listing of video game technology firm Ultimax