Why has the Webjet (ASX:WEB) share price taken off 11% in the past month?

It’s been a good 30 days for Webjet shareholders.
The post Why has the Webjet (ASX:WEB) share price taken off 11% in the past month? appeared first on The Motley Fool Australia. –

It’s been a big month for the Webjet Limited (ASX: WEB) share price despite no news having been released by the company. However, the travel sector has had several recent victories.

At the time of writing, the Webjet share price is $6.50, 1.09% higher than its previous close and 11.5% higher than it was this time last month.

So, what exactly has sent Webjet’s stock soaring? Let’s take a look.

What’s driving the Webjet share price lately?

The Webjet share price has had 3 days of excellent trade over the past month, each seemingly spurred by outside influences.

The first was on 23 September when the Webjet share price surged 5.5% higher.

That same day, the United States government announced its plan to scrap travel restrictions for arrivals from 33 countries. The catch is, of course, international travellers arriving in the United States must be fully inoculated against COVID-19.

The next time Webjet’s shares recorded a notable gain came just days later. The company’s stock lifted 5.2% on 27 September.

That was also the first ASX trading day after Prime Minister Scott Morrison announced Australia’s international borders should reopen before Christmas.

 Finally, Webjet’s third-best session of the last 30 days was its most recent.

On Friday, the Webjet share price soared 4% higher after New South Wales Premier Dom Perrottet announced the state will soon scrap quarantine for vaccinated international arrivals.

The initial idea was the state would become Australia’s tourism mecca. That is, until other states catch up with its vaccination rate. Currently, 80.8% of those eligible to receive a COVID-19 vaccine in New South Wales have had both doses. That vaccination rate is only bested by the ACT.

However, Morrison soon overruled Perrottet’s plans. He announced the federal government would only be allowing Australian citizens and residents into the country for the time being.

The post Why has the Webjet (ASX:WEB) share price taken off 11% in the past month? 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

These are the 10 most shorted ASX shares

These 2 ASX shares have been named as good opportunities

ASX travel shares on watch as US border reopens

Here’s why the Webjet (ASX:WEB) share price is lifting 4% on Friday

Top broker sees 15% upside in the Webjet (ASX:WEB) share price

Motley Fool contributor Brooke Cooper 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!