Why Carnival, Royal Caribbean, and Norwegian Cruise Line Stocks Are Bouncing Back Today
Monday was a rough day for investors in cruise stocks. News reports that Carnival Corporation (NYSE: CCL) (NYSE: CUK) subsidiary AIDA Cruises is canceling planned early-August trips due to a lack of preapproval from the Italian government, that the Norwegian cruise ship MS Roald Amundsen is reporting 43 coronavirus infections aboard, and that Norway is restricting cruises for the next 14 days while it investigates the outbreak, reminded investors that all is still not well in the industry. The news sent shares of Carnival -- and Royal Caribbean Cruises (NYSE: RCL) and Norwegian Cruise Line Holdings (NYSE: NCLH), too -- down sharply in response.
Tuesday is a new day, however, and in early trading, circa 11:35 a.m. EDT, all three of the big cruise line stocks are bouncing back a bit, with Carnival stock up 4.8%, Norwegian Cruise up 4.5%, and Royal Caribbean stock gaining 4%.
And Royal Caribbean may be the reason for it.
Source Fool.com
