The shares of Carnival Corp. and Royal Caribbean Group made the biggest one-day gain since their first trading day after Pfizer and BioNTech reported 90% effectiveness on their developed Covid-19 vaccine, raising sentiment to the cruise industry in hopes of returning demand soon.
Yesterday, Carnival’s stock (CCL) rose 39.29%, the biggest one-day gain since the company went public in July 1987. Royal Caribbean shares (RCL) soared 28.78%, also the biggest one-day gain since the company went public in April 1993. Norwegian Cruise Line Holdings Ltd.’s stock (NCLH) hiked 26.75%.
Pfizer and BioNTech also saw their share prices edge higher as well after the announcement. Pfizer, increased 7.69%, while BioNTech advanced 13.91%.
The cruise industry has been among those underperformers during the coronavirus outbreak since the beginning of 2020 and a series of restrictions from the government to curb the infection rate as well as a lockdown made it difficult for cruise operators to proceed with their businesses.
Thus, the report of a potential vaccine that could come earlier than expected spiked hopes in the industry and investors in hopes of a recovery in demand.