The Helloworld Travel Ltd (ASX: HLO) share price has taken off over the last week despite no news having been released by the company.
However, the company’s stock’s surge came amid a barrage of good news for the travel industry.
At the time of writing, the Helloworld share price is $2.88, 0.69% lower than its previous close but 12.5% higher than it was this time last week.
Let’s take a closer look at what might have driven positive sentiment in the Helloworld share price, and the entire travel sector, over the last 5 trading days.
Helloworld share price surges 12.5%
The Helloworld share price has taken off over the last week despite the company’s silence.
However, it might be being boosting by exciting news from the Prime Minister.
On Friday, Prime Minister Scott Morrison announced Australia’s international borders will begin to open to vaccinated travellers from November.
That means, for the first time since March 2021, vaccinated Australians will be able to travel freely in and out of the country. Though, only states that allow home quarantine will be able to receive incoming travellers.
In what may have been a reaction to the news, the Helloworld share price soared 5.4% on Friday. It then gained another 14.8% on Monday.
It’s unclear as to which states will begin offering Australians the ability to isolate at home. Previously, both South Australia and New South Wales have completed successful home quarantine trials.
Additionally, as ABC News has reported, Queensland is set to begin a home quarantine trial next week. Up to 1,000 Queenslanders from the state’s Southeast region will reportedly be able to return from interstate COVID-19 hotspots, beginning on 11 October.
While vaccinated travellers may soon be able to quarantine at home for 7 days upon arriving in Australia, non-vaccinated travellers will still face 14 days of managed quarantine.
On that note, Australia’s vaccine rollout passed a major milestone yesterday. Now, over 80% of all Australians have had at least one jab.
How has the broader travel sector performed this week?
Perhaps unsurprisingly, the Helloworld share price isn’t alone in its gains this week. Shares in fellow online travel agent, Flight Centre Travel Group Ltd (ASX: FLT) have surged 7.6% over the last week.
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Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned.
The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Helloworld Limited. The Motley Fool Australia owns shares of and has recommended Helloworld Limited and Webjet Ltd. The Motley Fool Australia has recommended Flight Centre Travel Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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