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

Cruise ship stocks surged on Wednesday after investors received exciting news about an experimental COVID-19 vaccine.

By the close of trading, shares of Carnival (NYSE: CCL) (NYSE: CUK), Royal Caribbean (NYSE: RCL), and Norwegian Cruise Line Holdings (NYSE: NCLH) were up 16%, 21%, and 20%, respectively.

Surging COVID-19 case counts have weighed heavily on the cruise industry. Royal Caribbean, Carnival, and Norwegian have had their ships stuck at port for months, following a string of coronavirus-related outbreaks aboard their vessels. With little revenue coming in, they've been bleeding cash and forced to incur massive amounts of debt to stay afloat.

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Source Fool.com