Tag Archives: Cruise Line stocks

Cruise Stocks Are Way Up Since First Fears of New COVID-19 Variant

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P&O Britannia, Oasis and Allure of the Seas in St. Kitts, photo credit Spacejunkie2

Cruise line stocks are doing well despite fears over the Omicron variant of COVID-19 and are significantly up since dropping on variant fears on Nov. 26.

Carnival Corporation stocks were up just under 20 per cent since closing on Nov. 26 as of mid-morning on Thursday, Jan. 6., has gone from $17.95 to $21.50.

Royal Caribbean Group was seeing a similar surge, up 19 per cent since closing on Nov. 26 at $67.98 with the Thursday morning price hovering just under $81.

Norwegian Cruise Line Holdings has also rallied since late November, coming from a close of $20.06 on Nov. 26 to a price of $21.76 on Thursday, Jan. 6.

CDC Halts J&J Vaccine Causing Cruise Stocks To Fall

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Cruise Line stocks are under pressure today after the Food and Drug Administration and the Centers for Disease Control announced they will stop using the Johnson & Johnson vaccine at federal sites and urge states to do so as well while they investigate safety issues.

The NY Times reports that the single-dose coronavirus vaccine is being pulled after six recipients in the United States developed a rare disorder involving blood clots within about two weeks of vaccination, officials briefed on the decision said. All six recipients were women between the ages of 18 and 48.

This is particularly bad news for the cruise lines that have been fighting the CDC over the current US cruise ban which some operators consider overly strict. Last week the state of Florida sued President Joe Biden’s administration in federal court seeking to block the Centers for Disease Control and Prevention’s decision to prevent the U.S. cruise industry from immediately resuming operations which have been paused for a year because of the coronavirus pandemic.

Shares of Norwegian Cruise Lines $NCLH, Carnival $CLL, and Royal Caribbean $RCL were all down a few per cent in the premarket this morning immediately after the news was announced.