Why Carnival, Royal Caribbean, and Norwegian Cruise Line Stocks Sank Today

Cruise ship stocks fell on Monday after surging COVID-19 case counts forced government officials in California to reverse some of the state's economic reopening plans.

By the close of trading, shares of Royal Caribbean (NYSE: RCL) and Norwegian Cruise Line Holdings (NYSE: NCLH) were down 4.3% and 4.9%, respectively. Carnival's two stocks Carnival Corporation (NYSE: CCL) and Carnival Plc (NYSE: CUK) were down 5.5% and 4.8%.

With the novel coronavirus infecting alarming amounts of people in his state and around the country, California Gov. Gavin Newsom ordered a host of businesses -- including dine-in restaurants and movie theaters -- to close indoor operations. He also ordered all bars in the state to shut down. 

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Source Fool.com