Why Shares of Booking Holdings Gained 10% in May

Shares of Booking Holdings (NASDAQ: BKNG) have been hit hard by the COVID-19 pandemic, with the stock losing nearly half of its value from mid-February until late March. The reason for the stock slide early in the year was clear: Airlines and hotel demand has been all but wiped out by the pandemic, and as those businesses have fallen, so too have companies that serve the travel industry, including Booking Holdings. Booking Holdings had already withdrawn full-year guidance before the release but used the earnings report to lay out the steps it was taking to weather the storm.