By Kuldip K. Ambastha and Anil K. Ambastha
On Tuesday, January 21, 2020, China Eastern Airlines Corporation Limited (CEA) stock dropped by 10.4% for the day. China Eastern Airlines is a major Chinese airline company which offers international, domestic, and regional flights. The company is headquartered at Shanghai Hongqiao International Airport in Changning District, Shanghai. Changes in company-specific performance metrics were not a factor in the decline of the stock price on Tuesday, January 21, 2020. Instead, the coronavirus outbreak hit Chinese airline and hotel stocks hard. The coronavirus has evoked fears of a possible epidemic, akin to the SARS epidemic of late 2002 in China.
Keywords – China Eastern Airlines Corporation Limited, China Eastern Airlines, CEA, Shanghai, airlines, flights, hotels, People’s Republic of China, China, PRC, coronavirus, SARS, outbreak, epidemic.
Disclosure – The principals and clients of Ambastha Financial LLC do not have any positions in CEA.
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