Why Carnival Is Up Nearly 9% on Wednesday (While Royal Caribbean and Norwegian Aren't Far Behind)
Shares of beleaguered leisure cruise company Carnival (NYSE: CCL) (NYSE: CUK) are up 8.8% as of midday today, following through on a similarly big move made yesterday. Peers and rivals Royal Caribbean (NYSE: RCL) and Norwegian Cruise Line Holdings (NYSE: NCLH) are seeing their stocks jump as well, even if not quite as much. All of the bullishness, however, sprouts from the same root. That is, Carnival finally sees a light at the end of the pandemic tunnel, anticipating a return to nearer-normal operations by the end of this year.
COVID-19 has made things tough for most consumer-facing companies, but has downright brutalized the cruise industry. Forced to cancel cruises altogether during the early days of the pandemic and then operating under severe limitations as vaccination numbers rose beginning late last year, Carnival and other cruise companies remain deep in the red.
Leisure travel, however, is on the mend.
Source Fool.com
