Why Carnival Shares Popped 11.2% Today

Shares of cruise operator Carnival (NYSE: CCL) jumped as much as 11.2% in trading Tuesday after President Trump vowed to help the industry. Shares actually hit a 52-week low near midday as well, but at 2:55 p.m. EDT, they were still up 7.2% for the day.

President Trump said earlier today that the administration is working on ways to help the cruise and airline industries adapt to a loss of demand due to the COVID-19 coronavirus. Details on what exactly that help looks like are murky, but the comment got traders excited after weeks of bad news for the industry.

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Source Fool.com