Is Now the Time to Buy Royal Caribbean Stock?
Royal Caribbean (NYSE: RCL) has seen its operations halted indefinitely due to the coronavirus pandemic. It's shipped are docked and the company has no set date to return to the seas -- though it currently aims to return after June 11.
That date remains very much in doubt, and the cruise line has been burning cash to keep its fleet of ships ready for whenever they're cleared to sail. And, of course, even when the company can begin cruising again, it's hard to know when customers will be willing to come back.
That means that Royal Caribbean faces a period with almost no revenue coming in followed by one where ships likely sail less than full with customers paying lower-than-normal prices. That has sent shares of the cruise line plummeting to around $34, down from the stock's 52-week high of $135.32.
Source Fool.com
