Cruise Line Stocks Surge on Monday on Vaccine News

Premarket on Monday, cruise line stocks surged up to the tune of between 20 to 30 per cent based on positive vaccine news.

Carnival Corporation was up 29.16 per cent; Royal Caribbean Group 21.05 per cent; Norwegian Cruise Line Holdings 25.81 per cent and Lindblad Expeditions 17.43 per cent in premarket trading. 

The positive momentum was driven by good news from clinical trials evaluating a COVID-19 vaccine from Pfizer and BioNTech. With multiple news outlets reporting vaccine trials were seen as more than 90 per cent effective. Drugmakers may apply for emergency use as soon as later this month.