IAG (LSE: IAG) shares have been up and down in the past 30 days. The resurgence of pandemic concerns seems to be a key driver behind this. The announcement of the Omicron variant on 25 November sent the share price tumbling almost 15% by the time markets closed. This trend spanned the whole industry with competitors easyJet and TUI both seeing double-digit drops too.
While IAG shares have fallen almost 12% in a year and 20% in the past 30 days, they jumped 8% last Monday. This was largely due to the Omicron virus concerns abating. These up and down price moves made me wonder whether now might be a good time to add IAG shares to my portfolio.
First, looking at valuations, IAG shares actually look quite cheap to me right now. The firm’s pre-pandemic share price was well over 400p. Currently sitting at 142p, it’s trading … Read more