Why Shares of Gol Linhas Aereas Inteligentes Soared on Tuesday
Shares of Brazilian airline Gol Linhas Aereas Inteligentes (NYSE: GOL) gained 20% on Tuesday, as the city of Rio de Janeiro announced a partial end to its quarantine order. COVID-19 cases are still on the rise in Brazil, but Rio is beginning to reopen to tourists. Brazil has the second highest number of COVID-19 cases globally -- more than 500,000 in total -- and the country has largely been locked down in recent weeks.