Airlines were one of the hardest-hit industries at the start of the pandemic, with the five-member S&P 500 Passenger Airlines Index collapsing over 31% in 2020. This made the group the worst-performing S&P 500 industry for the year, outside of oil and gas.
The selloff also created an exciting investment opportunity that many young and nontraditional investors, locked down at home and with record disposable income, took advantage of. According to data from Robinhood, the commission-free securities trading platform preferred by millennial and Gen Z investors, distressed airline stocks became one of the year’s breakout hits, with trading volumes hitting historic levels.
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