When was the worst ever day on the Webjet (ASX:WEB) share price chart?

Here's what spurred the Webjet share price's worst single-day performance ever.

| More on:
qantas pilot putting hands to her face as if distraught

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

sdf

Market watchers likely won't be too shocked to learn that 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 that sent Webjet's stock plummeting? 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.

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.

More on Travel Shares

Woman on a tablet waiting in for her flight in an airport and looking through a window.
Travel Shares

UBS reveals the biggest question facing Qantas shares over the next 12 months

UBS takes a look at the projected flight trajectory of Qantas shares post this week’s Jetstar Asia closure.

Read more »

A pilot stands in an empty passenger cabin smiling with his arms crossed looking excited
Travel Shares

What does Macquarie think Qantas shares are worth?

Let's see if the broker believes the Flying Kangaroo's shares can keep rising.

Read more »

Man sitting in a plane seat works on his laptop.
Travel Shares

3 reasons to sell Qantas shares today

A leading expert foresees headwinds building for Qantas shares.

Read more »

a passenger plane is on the tarmac with passenger shute attached with a view of the surrounding land and sunset in the background.
Travel Shares

Qantas share price lifts off on big Asian news

Qantas shares have surged more than 73% in a year. Here’s why they’re gaining again today.

Read more »

Man sitting in a plane looking through a window and working on a laptop.
Travel Shares

Could Virgin's IPO impact Qantas shares?

The recent IPO announcement could change the Australian aviation landscape. 

Read more »

Smiling woman looking through a plane window.
Travel Shares

Virgin Australia returning to the ASX with $685m IPO

Demand for domestic travel draws the airline back to the stock market.

Read more »

A woman ponders a question as she puts money into a piggy bank with a model plane and suitcase nearby.
Travel Shares

Here's the earnings forecast out to 2029 for Qantas shares

Can the airline generate even stronger earnings? Here’s what experts think.

Read more »

Man sitting in a plane seat works on his laptop.
Travel Shares

Qantas shares have doubled in less than 2 years. Are they a buy, hold or sell?

What do analysts think of the Flying Kangaroo?

Read more »