Why Cruise Line Stocks Are Feeling Tailwinds Today
Cruise lines piled more bad news on investors last week when Carnival (NYSE: CCL) (NYSE: CUK) joined Norwegian Cruise Line Holdings (NYSE: NCLH) and Royal Caribbean (NYSE: RCL) in announcing that operations were going to remain suspended through December 2020, with no assurance of when they would sail again.
But shares in Royal Caribbean, Norwegian, and Carnival are soaring 28%, 31%, and 43%, respectively, at market open today after Pfizer (NYSE: PFE) and BioNTech (NASDAQ: BNTX) announced this morning that their COVID-19 vaccine candidate is showing 90% effectiveness.
The pharmaceutical companies reported the results based on the phase 3 clinical trial's first interim efficacy study, which was conducted by an external and independent committee that is monitoring vaccine trial progress.
Source Fool.com
