Y - Why Cruise Line Stocks Dropped Today
Cruise operators, and their stocks, have been some of the hardest hit businesses by the pandemic. Exactly one year after the stock market bottom, cruise line stocks have bounced back in the form of doubles and triples off of their lows.
But even as vaccine rollouts grow, timeframes for returning ships to sea continue to be extended, and cruise stocks are reflecting that today. As of 2:45 p.m. EDT Tuesday, shares of several cruise stocks were down:
Yesterday, Carnival disappointed European vacationers expecting to ship out later this week when it announced one of its global cruise brands was pushing back plans of restarting operations by another month. Royal Caribbean, which has continued to raise money to bolster its balance sheet this month, also reassigned the home port of one of its ships to the Bahamas to be able to schedule a Caribbean cruise for June.
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Why Cruise Line Stocks Dropped Today