Why Carnival Corporation Stock Dropped Today

Shares of cruise line stock Carnival Corporation (NYSE: CCL) fell as much as 3.1% in trading on Tuesday as investors started to sell some of the stimulus driven stocks. Shares hit their low early in the day but are still down 2.7% at 12:20 p.m. EST.

The drop looks fairly big today, but the reality is that investors are likely taking some profits from a bounce in shares that happened on Friday of last week. Cruise line stocks jumped across the board after clinical trial data showed that Pfizer's (NYSE: PFE) antiviral treatment reduced the risk of hospitalization or death by 89% for adults with COVID-19.

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Source Fool.com