Why the Webjet (ASX:WEB) share price is up 48% in November // Motley Fool Australia

The Webjet Limited (ASX: WEB) share price is continuing to march higher today, up 2.0% in afternoon trading. Today’s gains follow on the 18% rise posted last week, which sees the Webjet share price up 48% so far in November.

By comparison the S&P/ASX 200 Index (ASX: XJO) is up 9.7% so far this month.

However, while the ASX 200 is now only down 2.9% year to date, the Webjet share price is still 45.6% lower, despite November’s meteoric rise. That’s because the company is still battling back from seeing its shares lose more than 77% in the early months of the COVID-19 breakout.

What does Webjet do?

Headquartered in Melbourne, Webjet is a digital focused travel agency operating in Australia and New Zealand, with customers across…