Why Norwegian Cruise Line, Carnival, and MGM Resorts Stocks Jumped Higher Today
The latest cruise industry news is not great. According to CNN, COVID-19 numbers are setting new records in the U.S. today, with 10.5 million total cases and 240,000 deaths. Meanwhile, the first cruise ship to resume sailing in the Caribbean since the pandemic struck, the SeaDream Yacht Club's SeaDream 1, just found out that five of its passengers have tested positive for the novel coronavirus, and the whole ship -- passengers and non-essential crew -- are now in quarantine.
That doesn't sound so good for cruise ship stocks hoping to resume cruising once the CDC says they're cleared to do so. And yet, as of noon EST, shares of Carnival Corporation (NYSE: CCL) (NYSE: CUK) and Norwegian Cruise Line Holdings (NYSE: NCLH) are both up 6.5%, while back on the mainland, MGM Resorts International (NYSE: MGM) is racking up 7% gains.
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Source Fool.com
