Why Travel and Entertainment Stocks Bounced Higher on Tuesday

After weeks of fears about the impact of the omicron variant of COVID-19, investors are now brushing it aside. The most notable movers were Melco Resorts (NASDAQ: MLCO), Expedia Group (NASDAQ: EXPE), and Ashford Hospitality Trust (NYSE: AHT), all jumping double-digits at their high today. Booking Holdings (NASDAQ: BKNG), Marriott International (NASDAQ: MAR), MGM Resorts (NYSE: MGM), and Trip.com (NASDAQ: TCOM) were also up high single digits today.