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25.09.2020 16:05:00

Carnival, Royal Caribbean, and Norwegian Cruise Line Stocks Are Sinking This Week

This has been a rough week for cruise stock investors. Shares of Carnival (NYSE: CCL) (NYSE: CUK), Royal Caribbean Cruises (NYSE: RCL), and Norwegian Cruise Line Holdings (NYSE: NCLH) have declined 10%, 8%, and 10%, respectively, through Thursday's close. Carnival announced it would be selling two more of its ships. It's also laying off 100 -- or 10% -- of its ship officers. A panel led by Royal Caribbean and Norwegian Cruise Line also issued its recommendations for setting sail again safely, and let's just say that the cruising experience will be more than a little different when passenger voyages get going again. Throw in iffy economic news, a pandemic that isn't showing any signs of going away anytime soon, and a slow-footed approach to injecting another round of financial stimulus into taxpayer pockets, and you have a gloomy outlook for the cruising industry.Image source: Royal Caribbean Cruises.Continue reading
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