The head of SpringOwl invited investors to invest in travel companies' shares it is a temporary phenomenon. Subsequently, the securities will rise in price, and in this way investors, investing in them, will be able to earn, said CEO of the American company SpringOwl Asset Management Jason Ader in an interview with CNBC.
Ader called the decline in quotations on the news of a new strain in November similar to that observed when the delta variant of the coronavirus was detected at the end of 2020. However, according to the head of SpringOwl, the current downturn will be short-lived.
The head of SpringOwl noted that it is precisely when people are worried that investors are able to earn the most. “The pullback in stock prices right now definitely offers interesting opportunities,” the expert said. Casino promotions are particularly encouraging, especially in Macau, a special administrative region of the PRC, where strict restrictions have been introduced. He also suggested drawing attention to the shares of the company Las Vegas Sands, which owns and operates resorts and casinos in the United States, Macau and Singapore. The share price fell by about 50 percent compared to January 2020.
On November 26, amid news of the emergence of a new strain of coronavirus, global markets sank. S&P 500 in a few minutes from the start of trading fell 1.6 percent, Dow Jones – 2.2 percent, Nasdaq – 1.2 percent. Negative sentiment also affected the cryptocurrency market – bitcoin lost 6.8 percent.
The emergence and further spread of the omicron strain of coronavirus forced the European Commission to declare its readiness to introduce any additional restrictions on residents of the European Union. Other countries also began to impose restrictions. So, on November 29, Israel banned foreigners from entering for 14 days, and also introduced compulsory home isolation for its citizens returning from abroad.