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Cruise Stocks News: Why CCL, NCLH, RCL Are Powering Higher Today

Carnival (NYSE:CCL), Norwegian Cruise Line (NYSE:NCLH), and Royal Caribbean Cruises (NYSE:RCL) stocks are on the rise Monday thanks to some good news for the cruise companies.

A close-up shot of a woman wearing a straw hat with a cruise ship in the background.

Source: Andy Dean Photography / Shutterstock.com

The positive stock news comes not from these cruise companies, but rather Pfizer (NYSE:PFE) and BioNTech (NASDAQ:BNTX). These two companies have been working together to create a vaccine for the novel coronavirus.

Luckily for these cruise stocks, a news release from PFE reveals that their efforts are paying off. They note that interim results from a clinical trial of coronavirus vaccine candidate BNT162b2 are a good sign.

The clinical trial has the companies testing the ability of the vaccine to immunize people not previously infected by the coronavirus. The vaccine seems to be effective based on these results. Those results were confirmed by an external, independent data monitoring committee.

It’s no surprise that cruise stocks would be up on this news. Cruise companies have been anxiously waiting for a vaccine to the novel coronavirus as the pandemic has been horrible for business. The sooner it ends, the better for them, and a vaccine is one step closer to that.

The current goal of most cruise companies is to reopen cruises to passengers starting early next year. This follows confirmation from the Centers for Disease Control and Prevention (CDC) that cruises can reopen. Even so, these cruise lines will have to follow strict regulations from the CDC if they want to start operating again next year.

CCL stock was up 29.9%, NCLH stock was up 21.4%, and RCL stock was up 22.6%.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.


Article printed from InvestorPlace Media, https://investorplace.com/2020/11/cruise-stocks-news-sends-stocks-soaring/.

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