Carnival Recovers After Omicron Drops

Carnival was rising sharply in the trading session yesterday. At the morning highs, the stock had put in a total gain of 8.2%. Since the stock is still far below its pre-omicron levels, it reacted swiftly to news that the variant of COVID-19 had been discovered in South Africa. Although the new Omicron variant may be more transmissible, it’s believed that it can trigger less severe cases of COVID-19.

Although it’s still too early to make a definitive statement about the illness, we do know that it doesn’t appear to have a great degree of seriousness. The ability to ease consumers’ minds while they’re out and about will help lift travel stocks. Though neither Carnival nor Royal Caribbean announced any new developments Monday, AMC did introduce a non-fungible token that lets investors claim perks from the company. The new NFT is a medallion with gold engraving, “I own AMC.” It’s part of the company’s Investor Connect program. Although Monday’s bounce was nice, there’s still a lot of uncertainty about the companies’ recovery. Even if the new version causes less severe cases, it could still delay the recovery of these companies.