Insights

Here’s why the Webjet (ASX:WEB) share price gained 29% last quarter

Webjet shares hit fresh 18-month highs in September as travel optimism gathers momentum.
The post Here’s why the Webjet (ASX:WEB) share price gained 29% last quarter appeared first on The Motley Fool Australia. –

The Webjet Limited (ASX: WEB) share price showed promised in the September quarter, rallying 29% to an 18-month high of $6.34.

Webjet shares have largely been range bound since November last year, struggling to break above $6.30 but finding plenty of buying support around the $4.50 level.

Webjet share price rallies on travel optimism

A return to normal for the travel industry is on the horizon headlined by announcements coming out of the United States and more recently, Australia.

Earlier this month, the White House announced that it will reopen its borders in November to vaccinated air travellers from 33 countries including China, India, Brazil and most of Europe.

Unfortunately, Australia did not make it to that list.

Nonetheless, Prime Minister Scott Morrison announced this afternoon that “Australia is ready to take its next steps to safely reopen to the world, with changes coming to the international border.”

The Government’s intention is that once changes are made in November, the current overseas travel restrictions related to COVID-19 will be removed and Australians will be able to travel subject to any other travel advice and limits, as long as they are fully vaccinated and those countries’ border settings allow.

A preemptive move for travel shares?

In some ways, the Webjet share price and broader ASX-listed travel sector have moved ahead of any material changes for international travel.

Looking at Sydney Airport (ASX: SYD) and its latest airport traffic figures, total passenger traffic in August 2021 was 51,000 passengers, down 98.6% against the corresponding period in 2019.

The rising optimism also follows a record 1,438 new local COVID-19 cases in Victoria on Thursday.

Foolish Takeaway

Ignoring the ifs and buts, the Webjet share price made an encouraging push towards the upper bound of its range in the September quarter.

It’s now trading at the same levels as early March 2020, when the broader market began to collapse following the initial outbreak of COVID-19.

With November just a month away, investors might have to wait and see if these opportunistic plans for travel can materialise.

The post Here’s why the Webjet (ASX:WEB) share price gained 29% last quarter appeared first on The Motley Fool Australia.

Should you invest $1,000 in Webjet right now?

Before you consider Webjet, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Webjet wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

Why the Webjet (ASX:WEB) share price is on the rise today
2 ASX shares that could be buys in October 2021

Why this top broker rates the Webjet (ASX:WEB) share price a buy
5 things to watch on the ASX 200 on Wednesday

Oil at a 3 year high and travel stocks soar. Scott Phillips on Nine’s Late News

Motley Fool contributor Kerry Sun has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Webjet Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!