Why Carnival Corporation, Norwegian Cruise, and Royal Caribbean Stocks All Popped Today
Investment banker J.P. Morgan predicted "a reasonable, albeit slow, recovery in operations" for cruise lines Carnival Corporation (NYSE: CCL) (NYSE: CUK), Norwegian Cruise Line Holdings (NYSE: NCLH), and Royal Caribbean (NYSE: RCL) last week, but said shares would "remain choppy and range-bound until investors receive more clarity" on such data points as, well, precisely when the CDC will permit cruise lines to resume cruising.
And they were half right -- maybe more than half.
Today, on a no-news day for the cruise industry, shares of Carnival, Norwegian Cruise, and Royal Caribbean stock are busting out all over, each up more than 10% in early trading. By 10:45 a.m., each cruise line stock had given up some of its gains, but Carnival is still hanging onto a 7% profit for the day, Norwegian's up 7.5%, and Royal Caribbean, 5%.
Source Fool.com
