Global Airline Bearish ares: A 51-Company Short Index Update
The accompanying table (click on image for a full-screen view) presents updated financial data and statistics for my 51-company index and short ETF idea termed Global Airline BEARISHares. Despite a relief rally after a massive sell-off in the airline industry thanks to falling crude oil prices; passenger airlines still face the prospects of a slowing global economy and high fuel costs. On a market cap-weighted basis, this index posted a trailing 52-week loss of 30.3% with widespread weakness from most companies except for Southwest Airlines (LUV), which is the largest company in the index and posted a stock price decline of less than 5% in the past year. The 14-stock AMEX Airline Index posted a decline of 46.1% over the past year, compared to a gain of about 3% for the iShares Dow Transports (IYT).
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