Why Southwest Airlines Stock Is Cleared For Take-Off

Southwest Airlines Company LUV shares are trading higher Thursday as shares of several airline stocks climb following upbeat guidance and commentary from JetBlue Airways JBLU.

What To Know:

JetBlue said that demand for travel remains healthy, with close-in bookings exceeding expectations for both holiday peak and non-holiday travel periods since late October.

Benzinga reported that airline industry stocks, as tracked by the U.S. Global Jets ETF JETS, have risen more than 20% since early November, yet the sector trades at at about a 40% discount compared to pre-pandemic levels.

Shares of LUV are moving on heavy trading volume Thursday. According to data from Benzinga Pro, more than 25.6 million shares have been traded in the session, compared to the stock's 100-day average volume of 16.869 million shares.

According to data from Benzinga Pro, shares of LUV are trading above the stock's 50-day moving average of $25.01 and below its 52-week high of $39.88.

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LUV Price Action: According to Benzinga Pro, Southwest Airlines shares are up by 4.5% at $29.26 at the time of publication.

Image: Hasan Hüseyin Yücel from Pixabay