During the COVID 19 crisis that took a big hit to the stock market especially the airline market. Not to mention the drama with Warren Buffett sold his entire position in these major US airlines:
Delta Air Lines.
Some airlines like American Airlines have been penny stocks for example 2012
In the 2nd picture you could see that the price per share for American Airlines was about 50 cents and then the Airline industry Came back in shape.
In the 1st picture you could see that the candle chart shows more red candles than green in the past 1 month so I am thinking that because of warren buffet, lots of people are doing the same thing in order to save their money.
I think that the airline market can’t recover for 5 years or more. This also goes with Boeing lots of airline are removing their orders to save money. About 3/4 of the airlines are not reporting profits in the Q2. If airlines turn into penny stocks I recommend to invest for the long term.