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Pro: stay away from hotels and airlines stocks until more clarity

by souhaib
November 22, 2021
in Economie
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A sharp surge in new COVID-19 cases is sending Europe into another lockdown, and Veritas Financial Group’s Greg Branch says turning to reopening names might not be the best way to go yet.

Greg Branch’s comments on CNBC’s ‘Squawk Box’

On CNBC’s “Squawk Box”, Branch revealed he wasn’t expecting the United States to see a new wave as deadly as the one currently ravaging countries like Austria and Germany, but said it was still better to wait for further confirmation.

If you think the wave is going to be more intense, you’d want to stay away from sectors that will be impacted by further closures and mandates. So, I’m staying away from things like Hotels and Airlines and other travel-associated things until I get more clarity.

He also recommends steering clear of names that could struggle in a continued inflationary environment. According to Branch, his “flight to safety” is the software sector at the moment.

Sylvia Jablonski has a different outlook

On the contrary, however, Defiance ETFs’ Sylvia Jablonski sees the recent dip in travel and hospitality stocks related to the pandemic situation in Europe as a good buying opportunity. She said:

These are a few names that are still off of 52-week highs, and as we fully reopen, you’ll see some opportunity to pop there. So, I would definitely go into those names. If you look back at the COVID spikes, almost all of these sectors that pulled back ended up rebounding.

But she agrees with Branch on the high margin software and technology names and recommends keeping them on the portfolio as well. Last week, Gilman Hill’s Jenny Harrington said JetBlue shares could climb by 40%.

The post Pro: stay away from hotels and airlines stocks until more clarity appeared first on Invezz.



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