Shares of American Airlines Group Inc. AAL, +11.18% set two new records Friday, one for volume and another for weekly gains, as an upbeat outlook for travel demand continues to fuel investor sentiment. A shockingly upbeat May jobs report also helped support the notion that the worst of the COVID-19 crisis has passed. The stock jumped 11.2% to the highest close since March 2, a day after the stock rallied aone-day record of 41.1%. Trading volume was a massive 423.6 million shares, breaking Thursday one-day record total of 399.4 million shares. The stock has run up 77.1% this week, or more than double the previous record for a weekly gain of 35.3% for the week ended March 27, 2020. Friday's rally comes even after Raymond James analyst Savanthi Syth downgraded the air carrier to underperform from market perform, saying the debt-burdened carrier's shares were "priced to perfection." The stock has still shed 35.2% year to date, while the U.S. Global Jets ETF JETS, +4.79% has slid 36.2% and the S\&P 500 SPX, +2.62% has slipped 1.1%.
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