Daily Traders Edge

Down 10% in the Past 3 Months, is Now a Good Time to Scoop Up the Shares of Delta Air Lines?

July 27
10:39 2021

While a surge in domestic leisure travel helped Delta Air Lines (NYSE:DAL) turn a profit in the second quarter, investors continue to be worried about its growth prospects due to the rapid spread of the COVID-19 Delta variant.

As a result, the stock’s price has declined by more than 10% over the past three months. So, let’s discuss if it is wise to buy DAL shares on the dip.Delta Air Lines, Inc. (DAL) reported $652 million in net income in its fiscal second quarter (ended June 30, 2021). It is the first quarter for which DAL has reported a profit since the onset of the COVID-19 pandemic.

U.S. government aid and a surge in domestic travel in the summer have helped the airline generate a profit in its last reported quarter. The Atlanta, Ga.,-based company is also seeking to cut its pandemic debt burden with a bond call.

However, the stock has retreated 10.6% over the past three months and 6.2% over the past month to close yesterday’s trading session at $41.67.

Continue Reading at Investing.com

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