Why Carnival Stock Just Popped
Shares of cruise ship operator Carnival Corporation (NYSE: CCL) (NYSE: CUK) stock are bouncing back Monday, up 3.3% as of 12:35 p.m. EDT. The move comes in response to news late Friday that the U.S. Court of Appeals for the 11th Circuit has reversed its previous ruling that the U.S. Centers for Disease Control and Prevention could enforce its Conditional Sail Order, setting restrictions on whether cruise lines could sail carrying unvaccinated passengers after July 18.
To be clear, this reversal means that the CDC now cannot enforce that order, and the cruise lines can sail with unvaccinated passengers -- at least in Florida. Or as CruiseIndustryNews.com reported on Friday, "it means the cruise industry can quickly resume sailing out of Florida in scale."
And Reuters is out today with a story agreeing with CIN's assessment, calling the appeals court's decision a "win for Florida."
Source Fool.com
