UPDATE 1-Short squeeze lifts Air France KLM as travel stocks fly
By Reuters Staff (Adds Point72 declining to comment, updates prices) MILAN, Feb 25 (Reuters) - Shares of heavily-shorted airline Air France KLM rallied by as much as 10% on Thursday as early signs of easing travel restrictions lured investors to a sector hard hit by the COVID-19 pandemic downturn. Traders said a short squeeze was driving gains in the Franco-Dutch group, which last week reported a 7.1 billion-euro ($8.7 billion) annual loss and warned of further pain ahead. Air France KLM shares have risen by as much as 25% since last week’s results announcement, tracking a sector rally that...
Source: reuters.com