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Last month a new COVID-19 variant called Omicron was detected in South Africa. It has since been spreading throughout the world and has led to countries imposing serious restrictions and lockdowns.
This has resulted in another round of selling in airline stocks, such as Southwest (LUV) and Delta (DAL). For long-term contrarian investors, now could be an opportunity to scoop up shares of one of these stocks at cheaper prices. Therefore, today I’ll analyze both stocks to determine if now is a good time to add them to your portfolio.
