RR Stock Price: Rolls-Royce Holding PLC dips slightly as its volatile week continues
Premium|Take advantage of 50% OFF on your first month.
Start your subscription and get access to all our original articles.
You have reached your limit of 5 free articles for this month.
Get Premium without limits for only $9.99 for the first month
Access all our articles, insights, and analysts.
UNLOCK OFFER- LSE:RR sheds 0.29% as the LSE dips alongside global markets.
- Rolls-Royce continues to recover from its steep drop in October.
- News of potential COVID-19 vaccines has renewed investor interest.
LSE:RR has been hit hard during the coronavirus pandemic and it is not just because people are not buying its cars. Shares have had a tumultuous couple of months including a near 65% loss back in October. On Tuesday, RR’s stock traded flat as it lost 0.29% to close the trading session at $102.70, which is already a nice 30% recovery from its drop off last month. The stock has been wildly volatile so far this year with a 52-week price range of $1.57 to $746.20.
When people hear the name Rolls-Royce, the first thing that comes to mind are its luxury vehicles that are hand-crafted and widely considered of the highest quality. But one of the reasons that the stock has struggled throughout the COVID-19 pandemic is that Rolls-Royce is one of the largest manufacturers of jet engines for the commercial airline industry. Similar to Boeing (NYSE:BA) and other companies in the aerospace industry, COVID-19 has completely knocked their businesses offline. Recent announcements from Pfizer (NYSE:PFE) and Moderna (NASDAQ:MRNA) about the efficacy of their current COVID-19 vaccine candidates has re-ignited interest in many of the stocks that have been beaten down throughout the pandemic.
Rolls-Royce share price
So is the stock worth diving back into at its current price levels? Perhaps. We could be in the midst of a rebound from stocks that have struggled during the coronavirus, just like in America where investors have shifted away from at-home companies. Rolls-Royce remains a volatile stock though, especially for one with an established brand and trading on a large exchange. A return to normal for air travel may still not be imminent so the increased optimism surrounding companies like Rolls-Royce could be labelled as an overreaction.
- LSE:RR sheds 0.29% as the LSE dips alongside global markets.
- Rolls-Royce continues to recover from its steep drop in October.
- News of potential COVID-19 vaccines has renewed investor interest.
LSE:RR has been hit hard during the coronavirus pandemic and it is not just because people are not buying its cars. Shares have had a tumultuous couple of months including a near 65% loss back in October. On Tuesday, RR’s stock traded flat as it lost 0.29% to close the trading session at $102.70, which is already a nice 30% recovery from its drop off last month. The stock has been wildly volatile so far this year with a 52-week price range of $1.57 to $746.20.
When people hear the name Rolls-Royce, the first thing that comes to mind are its luxury vehicles that are hand-crafted and widely considered of the highest quality. But one of the reasons that the stock has struggled throughout the COVID-19 pandemic is that Rolls-Royce is one of the largest manufacturers of jet engines for the commercial airline industry. Similar to Boeing (NYSE:BA) and other companies in the aerospace industry, COVID-19 has completely knocked their businesses offline. Recent announcements from Pfizer (NYSE:PFE) and Moderna (NASDAQ:MRNA) about the efficacy of their current COVID-19 vaccine candidates has re-ignited interest in many of the stocks that have been beaten down throughout the pandemic.
Rolls-Royce share price
So is the stock worth diving back into at its current price levels? Perhaps. We could be in the midst of a rebound from stocks that have struggled during the coronavirus, just like in America where investors have shifted away from at-home companies. Rolls-Royce remains a volatile stock though, especially for one with an established brand and trading on a large exchange. A return to normal for air travel may still not be imminent so the increased optimism surrounding companies like Rolls-Royce could be labelled as an overreaction.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.