Why Carnival, Royal Caribbean, and AMC Entertainment Bounced Back Today
Shares of Carnival (NYSE: CCL), Royal Caribbean (NYSE: RCL), and AMC Entertainment (NYSE: AMC) were all up strongly in early trading Monday. At their morning highs, Carnival was up 10.4%, Royal Caribbean was up 8.2%, and AMC put in a respectable 5% gain. However, as of midday, AMC's price had fallen back to around breakeven.
Of course, all three stocks are trading far below where they were before the omicron variant of COVID-19 was discovered in South Africa during Thanksgiving week. Yet in the wake of some potentially good news about omicron that came out over the weekend, all three oversold stocks bounced back sharply.
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Source Fool.com
