Market watchers likely won’t be too shocked to learn the Webjet Limited (ASX: WEB) share price’s worst day on the ASX occurred in March 2020.
The arrival of the COVID-19 pandemic to Australia and the resulting market crash was dire for the online travel agent’s stock. In fact, the company’s share price still hasn’t reached its pre-COVID-19 level.
Webjet’s worst day on the ASX was on 16 March, 2020. On that day, the Webjet share price fell a massive 22.02% to finish the session trading at $3.14.
For reference, the Webjet share price was $9.42 exactly 1 month prior to its largest single-day plunge. Additionally, as of yesterday’s close, Webjet’s stock is trading at $6.31 apiece.
So, what happened on 16 March, 2020 to send Webjet’s stock’s value plummet? Let’s take a look.
The Webjet share price‘s worst day on the ASX
The Webjet share price wasn’t alone in its woes on 16 March 2020. That day, the S&P/ASX 200 Index (ASX: XJO) also crashed.
And not by an insignificant amount. The ASX 200 fell a massive 9.7% that day, and Webjet was one of its biggest weights.
The tumble came only days after the online travel agent’s share price’s second worst day ever.
On 12 March 2020, the Webjet share price fell 19.65%.
Also on 12 March 2020, COVID-19 was pinned with the title; ‘pandemic’ and then-President Donald Trump announced all travel into the United States from Europe had been banned.
Topping it all off, the previous day Webjet had scrapped its financial year 2020 guidance after the company experienced a surge in trips being cancelled.
Fortunately for Webjet shareholders, the company is seemingly starting to recover.
The last time the market heard price sensitive news from Webjet, it announced its WebBeds business returned to profitability in July 2021 and stayed in the green throughout August 2021.
Though, the company’s share price is still below what it was prior to the pandemic.
The post When was the worst ever day on the Webjet (ASX:WEB) share price chart? appeared first on The Motley Fool Australia.
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More reading
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- Why the Super Retail (ASX:SUL) share price is crashing today
- Why A2 Milk, Eroad, Flight Centre, and Webjet shares are sinking
- The Webjet (ASX:WEB) share price is having a good month but it’s still 30% lower than pre-COVID levels
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. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Webjet Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
from The Motley Fool Australia https://www.fool.com.au/2021/10/28/when-was-the-worst-ever-day-on-the-webjet-asxweb-share-price-chart/
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