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Why Carnival, Royal Caribbean, and Norwegian Cruise Line Stocks Rebounded Today

Cruise ship stocks rose on Monday as investors apparently grew less concerned about soaring COVID-19 case counts in the U.S. and around the world.

By the close of trading, shares of Royal Caribbean


Cruise ship stocks rose on Monday as investors apparently grew less concerned about soaring COVID-19 case counts in the U.S. and around the world.

By the close of trading, shares of Royal Caribbean (NYSE: RCL) and Norwegian Cruise Line Holdings (NYSE: NCLH) were both up 8.4%, while Carnival's two stocks Carnival Corporation (NYSE: CCL) and Carnival plc (NYSE: CUK) were up 6.3% and 2.9%. 

Even as the number of new coronavirus infections surged in many parts of the world, investors bid up shares of COVID-19-sensitive cruise ship companies. Some analysts, such as Tom Lee of Fundstrat Global Advisors, are apparently focusing on reports that the number of people who are dying from COVID-19 is not rising as quickly as the number of people who are getting sick from the disease. "While there were many alarming COVID-19 'headlines' over the weekend, noting 'record case' numbers, daily U.S. deaths attributed to COVID-19 fell to a new low of 253," Lee said. 

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Source Fool.com

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