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

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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