Airline stocks have been a troubled group so far this year but Wednesday is showing a swift turnaround. Shares of Delta Air Lines (DAL - Get Report) and American Airlines (AAL) are each up 6% while Southwest Airlines (LUV - Get Report) is up 4%.
The companies are saying that everything is OK, TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said on CNBC's "Stop Trading" segment.
And while "OK" may not be the greatest word in the investment world, it means a lot in a sector that has struggled as much as this one, Cramer reasoned.
When investors feel that the stocks have overreacted to the downside and the situation has stabilized, it can lead to a "real rally," he added. This move is taking investors by surprise, Cramer concluded.