Take off flies on Wall Street: why the shares of this company rise so strongly

Take off flies on Wall Street: why the shares of this company rise so strongly

The shares of Despegar.com jumped very strongly this Thursday on Wall Street contrary to what happens with the other papers of national companies in the United States this Thursday.

This Thursday, all Argentine shares listed on Wall Street are operating in the red or with almost neutral results. However, the role of a local company separates itself from the rest and shows an extremely positive result and surprises the markets.

Is about Despegar.com shares, which jump 12.05% in the United States stock market this Thursday. And as far as he could find out AmbitThis is because the company’s profits in the first four-month period were very good compared to the previous ones.

This is how it informs Leonardo Svirskyan operator with a long history in the market, who points out that “increased their income by 41% in the first four-month period of the year” and that led to some buy recommendations today, for example, by Itau and Citi.

Why do Despegar actions jump?

This recovery, as reported by Svirsky, responds to “a recovery in the demand for international traffic”, surely. And it is that, Despegar.com is a online travel agency which has operations in 21 countries, the largest in Latin America.

It is a technology company that is dedicated to tourism, one of the sectors most affected by the social isolation that was implemented during the pandemic. This measure, which was taken in Argentina and in almost every country in the world in 2020, hit the company very hard.

Likewise, in March of this year, the shares of Despegar.com had fallen sharply after the resignation of Alberto López Gaffney, the company’s financial director (CFO), and the news was a consequence of the worrying data that the firm had been showing in its balances.

That had hit company shares hard, which had fallen more than 50% in a year. Now, a few months after the change in its leadership, a recovery of the results is noted.

Source: Ambito

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest Posts