Insights

Why the Webjet (ASX:WEB) share price has soared 24% in 4 weeks

The Webjet share price is having a roaring few weeks on the ASX. Here’s why.
The post Why the Webjet (ASX:WEB) share price has soared 24% in 4 weeks appeared first on The Motley Fool Australia. –

The Webjet Limited (ASX: WEB) share price is taking off this month amid anticipation Australians might soon be doing the same.

Over the last 4 weeks, Webjet has only released 1 piece of news to the market. However, it was an exciting announcement.

Additionally, Australia is inching closer to vaccine targets that the federal government expects will see the country opening to both domestic and international travel once more.

Right now, the Webjet share price is $5.96, 1.3% lower than its previous close but 24.2% higher than it was 4 weeks ago.

Let’s take a closer look at what the ASX 200 travel company has been up to over the last 4 weeks.

What’s driving the Webjet share price lately?

The Webjet share price is having a great few weeks’ trade on the ASX.

The single announcement the company released to the market in the last 4 weeks was overwhelmingly positive. It noted that the company’s WebBeds business finally returned to profitability.

A reopening of travel in North America and Europe has sparked WebBeds’ return to profitability. The company suggests WebBeds will bounce back quickly when international travel resumes.

Additionally, the company’s Australian online travel agency was profitable from April 2021 to June 2021. That was before the current lockdowns began in New South Wales and, later, Victoria and the Australian Capital Territory.

The positive news and hopeful outlook saw the Webjet share price gain 3.45% on the day of the release.

However, it is outside influences that seem to have spurred on most of Webjet’s gains.

Potentially, Qantas Airways Limited (ASX: QAN) could have helped Webjet’s stock. The airline announced its plan back to international travel on 26 August, perhaps inspiring confidence in the sector.

Additionally, the Webjet share price might be rallying alongside Australia’s COVID-19 vaccine rollout.

Under the federal government’s plan, lockdowns will become sporadic and international arrival caps will be raised when 70% of Australians are fully vaccinated. The government expects international travel to restart when 80% of Australians are fully vaccinated.

As of yesterday, 68.5% of Australians have had their first COVID-19 jab.

The post Why the Webjet (ASX:WEB) share price has soared 24% in 4 weeks 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

The Webjet (ASX:WEB) share price is nearing its 52-week high. Is now the time to buy?
Here’s why the Webjet (ASX:WEB) share price is up 50% this last year
How have ASX travel shares performed during the August 2021 earnings season?

When was the best ever day on the Webjet (ASX:WEB) share price chart?

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!