Bits and BobsPublicly listed travel companies posted massive gains on their stock prices on Monday this week.

Travel stocks shoot up on Pfizer vaccine news

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Travel companies cheer Pfizer's news about its vaccine efficacy.
Travel companies cheer Pfizer's news about its vaccine efficacy. Photo Credit: Getty Images/monsitj

Travel industry stocks surged on Monday following news that Pfizer's vaccine was remarkably successful at preventing Covid-19.

Cruise line shares soared in early trading, with Carnival Corp.'s skyrocketing by 37%, Royal Caribbean Group up 30% and Norwegian Cruise Line Holdings up 26%.

According to the Associated Press, "stocks of companies that most need the economy and the world to return to normal for their profits to heal led the way. A 12.1% surge for Chevron and 11.3% jump for The Walt Disney Co. amid hopes that people will start driving and flying to theme parks again helped drive the Dow Jones Industrial Average to a leap of 1,212 points, or 4.3%, to 29,535, as of 10:35 a.m. Eastern."

Among the GDSs, Sabre stock was up nearly 25% at 10:30 a.m. Amadeus saw a bump of more than 16%. On the OTR side, meanwhile, Tripadvisor was up nearly 20%. Expedia stock increased by more than 23%, and Booking Holdings was up more than 17%.

Major U.S. airlines were up Monday at 11 a.m., for the most part in the low double digits: United, for example, was up 13.7% and Southwest by 11.6%.

Jamie Biesiada contributed to this report.

Source: Travel Weekly

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