Why Carnival, Royal Caribbean, and Norwegian Cruise Line Stocks Plunged Today
What happened
Cruise ship stocks sank on Tuesday after Norwegian Cruise Line Holdings (NYSE:NCLH) said it had "substantial doubt about [its] ability to continue as a going concern."
As of 3:35 p.m. EDT, shares of Norwegian, Royal Caribbean (NYSE:RCL), and Carnival (NYSE:CCL) were down 22%, 10%, and 9%, respectively.
So what
It's not easy being a cruise ship operator during a global pandemic. With their ships docked due to sailing restrictions imposed by health officials, Norwegian, Carnival, and Royal Caribbean are burning through cash. These beleaguered cruise ship companies have been forced to turn to the debt markets to raise cash in hopes of staying afloat until their ships can resume sailing once again.
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https://www.fool.com/investing/2020/05/0...ruise.aspx
What happened
Cruise ship stocks sank on Tuesday after Norwegian Cruise Line Holdings (NYSE:NCLH) said it had "substantial doubt about [its] ability to continue as a going concern."
As of 3:35 p.m. EDT, shares of Norwegian, Royal Caribbean (NYSE:RCL), and Carnival (NYSE:CCL) were down 22%, 10%, and 9%, respectively.
So what
It's not easy being a cruise ship operator during a global pandemic. With their ships docked due to sailing restrictions imposed by health officials, Norwegian, Carnival, and Royal Caribbean are burning through cash. These beleaguered cruise ship companies have been forced to turn to the debt markets to raise cash in hopes of staying afloat until their ships can resume sailing once again.
...
https://www.fool.com/investing/2020/05/0...ruise.aspx
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