Business
Why the Webjet (ASX:WEB) share price is down 45% in 2020
The Webjet Limited (ASX: WEB) share price has had an incredibly volatile year.
On Wednesday the online travel agent’s shares are changing hands for $5.24, which means they are down 45% since the start of the year.
However, this is a big improvement from the Webjet share price’s April low of just $2.25.
Why is the Webjet share price down 45% in 2020?
Investors were selling off Webjet and fellow travel shares such as Flight Centre Travel Group Ltd (ASX: FLT) and Qantas Airways Limited (ASX: QAN) earlier this year after the COVID-19 pandemic brought the global travel industry to a standstill.
With booking volumes dropping to previously unthinkable levels, Webjet and its peers were suddenly left with next to no income and…
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