Why Cruise Line Stocks Soared Over 25% Tuesday

Shares of Royal Caribbean Cruises (NYSE: RCL), Carnival Corporation (NYSE: CCL), and Norwegian Cruise Line (NYSE: NCLH), were all flirting with 30% gains during early Tuesday trading before giving some gains back, as officials announced positive news for the COVID-19 coronavirus outbreak.

In case you missed it, despite a rising death toll in New York, Governor Andrew Cuomo said that the hospitalization rate and new-infection rate were both in decline. Morgan Stanley's chief U.S. equity strategist, Mike Wilson, went as far to say he believes the worst of the market turmoil is behind us and it makes "the risk/reward more attractive today than it's been in years."