On Tuesday, travel and leisure stocks continued riding the wave of Monday’s positive news about Moderna‘s coronavirus vaccine showing 94.5% effectiveness, with shares of cruise lines Carnival (NYSE:CCL) up 4.5% at 1:30 p.m. EST, and Norwegian Cruise Line Holdings (NASDAQ:NCLH) rising 4.7%.
Royal Caribbean stock is down, so it seems the enthusiasm may already be waning there. On the other hand, shares of Brazilian airline Azul (NYSE:AZUL) are joining in the rally today, up 2.2%.
There’s nothing specific to the cruise industry (or to the airline industry, either, for that matter) about Moderna’s news. This is more a case of investors reacting positively to the second announcement about development of a coronavirus vaccine with 90% or better clinical effectiveness, and a feeling that the end of this pandemic, and the recession it has caused,