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 (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