Why Shares of Azul Are Down Today

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Shares of Azul (NYSE: AZUL) were down more than 5% on Monday after the Brazilian airline was hit with a downgrade by J.P. Morgan. Airlines have rallied so far in 2021, and at least one analyst is worried they’ve gone up much too quickly.

By Latin American airline standards, Azul has weathered the pandemic relatively well. The stock fell nearly 90% in the early days of the outbreak and is still off by about 50% since the beginning of 2020, but Azul was able to remain flying even as some of the largest airlines in the region fell into bankruptcy.

Image source: Getty Images.

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