Cruise line shares rebound on Pfizer vaccine announcement

Written by Nick Blenkey
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Prices of cruise lines stocks soared on the New York Stock Exchange today as Pfizer Inc. (NYSE: PFE) and BioNTech SE (Nasdaq: BNTX) announced that their mRNA-based vaccine candidate had demonstrated evidence of efficacy against COVID-19 and that they currently estimate that the amount of safety data specified by the FDA in its guidance for potential Emergency Use Authorization will be available by the third week of November.

That doesn’t mean that mass rollout of the vaccine will follow immediately. Today, in a press release from the Biden-Harris transition team, President-elect Joe Biden noted that a previously announced timeline by industry officials had forecast vaccine approval by late November.

“Even if that is achieved, and some Americans are vaccinated later this year, it will be many more months before there is widespread vaccination in this country,” said the President-elect.

That didn’t faze investors. At the close of trading today Carnival Corporation (NYSE: CCL) had risen by 39.9%, Royal Caribbean Group shares were up by 28.9% and Norwegian Cruise Line Holdings Ltd. (NCLH) closed up 21.2%.

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