Lucy Nicholson / Reuters
Cruise stocks weathered the market sell-off that plagued generation stocks Thursday and rose after Carnival announced that two of its European-based subsidiaries would resume operations this weekend.
Costa Cruises, an Italian subsidiary of Carnival, will embark on its first voyage since operations were left out of the COVID-19 pandemic on Sunday, September 6.Week-long itineraries will include travel to ports in southern Italy and will be booked exclusively for Italian Customers.
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The two cruise lines will restrict the number of legal passengers to adopt and subject their crews and passengers to improved fitness and protection protocols to better combat COVID-19.
Following the disclosure, Carnival jumped 12% to $18.74 in Thursday’s operations, while Royal Caribbean and Norwegian Cruise Lines increased by 9% and 13%, respectively.
The movements of cruise lines are a central pillar of the so-called “epicenter” movements of Fundstrat Global Advisors co-founder Tom Lee, who he says will do so in anticipation of the success of a developing COVID-19 vaccine.after the pandemic.
Market Insider