It’s not a good start to the week for Flight Centre shares.
The post Why is the Flight Centre (ASX:FLT) share price slipping 2% today? appeared first on The Motley Fool Australia. –
The Flight Centre Travel Group Ltd (ASX: FLT) share price is slipping this morning despite no news being released by the company.
The fall comes as Victoria starts its first working week in lockdown while the Sydney COVID-19 outbreak continues despite shutdowns and lockdowns begin in Queensland’s north.
In addition, concerns are building in Tasmania after a taxi driver was exposed to the virus. Meanwhile, southeast Queensland enjoys its first morning out of its 8-day lockdown.
Right now, Flight Centre shares are down 2.42%, swapping hands for $14.90 apiece.
Let’s take a closer look at the latest news on Flight Centre.
What’s up with Flight Centre today?
While the market seems to be dubious about the travel sector – and the Flight Centre share price – today, the company’s CEO has been optimistic about its future.
Flight Centre’s CEO Graham Turner spoke about vaccine passports on Friday, saying it’s only a matter of time until they bring a semblance of normalcy back to international travel. At least, for those travellers fully inoculated against COVID-19.
Despite Turner’s recent positivity, market watchers seem to be wary of the travel sector today.
The Webjet Limited (ASX: WEB) share price is also falling. Webjet shares are currently trading for 1.15% less than they were at Friday’s close.
Sydney Airport Holdings (ASX: SYD) shares are also slipping 0.26%.
Perhaps oddly, the Qantas Airways Limited share price is in the green today. Though it’s had a rougher trot than most recently and may just be rebounding.
Flight Centre share price snapshot
Today’s falls have added to the woes of the Flight Centre share price.
It has fallen 5.5% since the start of 2021. However, it is 40% higher than it was this time last year.
The company has a market capitalisation of around $3 billion, with approximately 199 million shares outstanding.
Should you invest $1,000 in Flight Centre right now?
Before you consider Flight Centre, 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 Flight Centre 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 May 24th 2021
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 Australia has recommended Flight Centre Travel Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.