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June 5, 2020, 4:05 p.m. EDT

American Airlines stock adds to its tally of records with a weekly gain of over 75%

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By Tomi Kilgore

Shares of American Airlines Group Inc. /zigman2/quotes/209207041/composite AAL -2.42% set two new records Friday, one for volume and another for weekly gains, as an upbeat outlook for travel demand continues to fuel investor sentiment. A shockingly upbeat May jobs report also helped support the notion that the worst of the COVID-19 crisis has passed. The stock jumped 11.2% to the highest close since March 2, a day after the stock rallied aone-day record of 41.1%. Trading volume was a massive 423.6 million shares, breaking Thursday one-day record total of 399.4 million shares. The stock has run up 77.1% this week, or more than double the previous record for a weekly gain of 35.3% for the week ended March 27, 2020. Friday's rally comes even after Raymond James analyst Savanthi Syth downgraded the air carrier to underperform from market perform, saying the debt-burdened carrier's shares were "priced to perfection." The stock has still shed 35.2% year to date, while the U.S. Global Jets ETF /zigman2/quotes/207744796/composite JETS +0.42% has slid 36.2% and the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.45% has slipped 1.1%.

/zigman2/quotes/209207041/composite
US : U.S.: Nasdaq
$ 12.50
-0.31 -2.42%
Volume: 0.00
July 2, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$6.35 billion
Rev. per Employee
$345,547
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/zigman2/quotes/207744796/composite
US : U.S.: NYSE Arca
$ 16.59
+0.07 +0.42%
Volume: 0.00
July 2, 2020 4:00p
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/zigman2/quotes/210599714/realtime
US : S&P US
3,130.01
+14.15 +0.45%
Volume: 0.00
July 2, 2020 5:19p
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