Cruise Line Stocks: Wake Me Up When September Ends
If you were hoping to set sail on a summertime cruise this year, it's probably not going to happen. Norwegian Cruise Line Holdings (NYSE: NCLH) announced on Tuesday afternoon that it's canceling cruises embarking between Aug. 1 and Sept. 30 across all three of its brands. Only Seattle-based Alaskan voyages will stick to their September sailings. Select cruises including Canada and New England sailings are being suspended even longer, canceled through October as a result of travel and port restrictions.
Shares of Norwegian Cruise Line are plunging in response to another two months of revenue-less living. Larger rivals Carnival (NYSE: CCL) (NYSE: CUK) and Royal Caribbean (NYSE: RCL) are still sticking to their August dates, but it's just a matter of time before they follow Norwegian into a fall restart. Shares of Carnival and Royal Caribbean are also sinking on the news.
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Source Fool.com
