Cruise ship stocks fell on Monday after surging COVID-19 case counts forced government officials in California to reverse some of the state’s economic reopening plans.
By the close of trading, shares of Royal Caribbean (NYSE: RCL) and Norwegian Cruise Line Holdings (NYSE: NCLH) were down 4.3% and 4.9%, respectively. Carnival’s two stocks Carnival Corporation (NYSE: CCL) and Carnival Plc (NYSE: CUK) were down 5.5% and 4.8%.
With the novel coronavirus infecting alarming amounts of people in his state and around the country, California Gov. Gavin Newsom ordered a host of businesses — including dine-in restaurants and movie theaters — to close indoor operations. He also ordered all bars in the state to shut down.