Why Norwegian Cruise Line, Royal Caribbean, and Carnival Stocks All Jumped Again on Monday
This is fast becoming a tradition for investors focused on consumer discretionary spending: Buy shares of cruise line stocks over the weekend, because as surely as Monday follows Sunday, Monday morning will bring positive news of a new coronavirus vaccine, and cruise line stocks will go up.
The tradition began two Mondays ago, when Pfizer announced 90% effectiveness in its new coronavirus vaccine candidate. One Monday later, it was Moderna's turn to share good news. And today, right on schedule, here comes AstraZeneca with an announcement of anywhere from 62% to 90% effectiveness for its AZD1222 vaccine.
Cue the stock market rally: Norwegian Cruise Line Holdings (NYSE: NCLH) shares are up 4.8% as of 3:15 p.m. EST, and both Royal Caribbean (NYSE: RCL) and Carnival (NYSE: CCL) (NYSE: CUK) are up 5.3%. But is this the right reaction?
Source Fool.com
