Day: November 18, 2020

Why Norwegian Cruise, Carnival, and Azul Stocks Continued Rising Tuesday

What happened

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%.

Collage showing a cruise ship, a man in a face mask and a microbe

Image source: Getty Images.

So what

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,

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