Cruise Line Stocks Surge on Monday on Vaccine News

Carnival Corporation in Times Square

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

Carnival Corporation was up 29.16 percent; Royal Caribbean Group 21.05 percent; Norwegian Cruise Line Holdings 25.81 percent and Lindblad Expeditions 17.43 percent 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 percent effective. Drug makers may apply for emergency use as soon as later this month. 

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