Shares of Carnival Corp. and Royal Caribbean Group powered up toward record rallies Monday on heavy volume, on hopes of a quick recovery in the cruise industry following positive news on a potential COVID-19 vaccine.
soared 35.3% in afternoon trading toward the highest close since June 17. That would be the biggest one-day gain since the cruise operator went public in July 1987.
The next biggest gain was the 20.3% rally on April 6, 2020, which was two sessions after the stock hit a 27-year low.
Trading volume bulged to 160.4 million shares, compared with the full-day average of about 34.0 million shares.
The rally comes after Pfizer Inc.
and BioNTech SE
said their COVID-19 vaccine candidate, BNT162b2, was found to be 90% effective in the first interim analysis from Phase 3 study. That sparked a big rally