Why Carnival, Royal Caribbean, and Norwegian Cruise Line Stocks Dropped Today
After soaring on Monday, cruise ship stocks pulled back a bit on Tuesday. Shares of Carnival (NYSE: CCL), Royal Caribbean (NYSE: RCL), and Norwegian Cruise Line Holdings (NYSE: NCLH) fell 4.1%, 3.6%, and 3.5%, respectively.
Following reassuring comments by Federal Reserve Chairman Jerome Powell on Sunday -- and exciting news from Moderna (NASDAQ: MRNA) on Monday morning regarding progress toward a potential COVID-19 vaccine -- cruise ship stocks surged on Monday. The gains came as investors grew more hopeful that the pandemic could come to an end sooner than expected, and that the related economic damage could be less than feared -- both of which, of course, would be great for the major cruise line operators.
Cruise ship socks gave up some of their recent gains on Tuesday. Image source: Getty Images.
Source Fool.com
