Why Carnival Corporation, Royal Caribbean, and Norwegian Cruise Line Stocks Jumped -- Then Slumped -- Wednesday
Full speed ahead! Now reverse engines!
In the first few minutes of trading Wednesday, shares of Norwegian Cruise Line Holdings (NYSE: NCLH), Carnival Corporation (NYSE: CCL), and Royal Caribbean (NYSE: RCL) rushed forward in near lockstep, rising 11.3%, 11.5%, and 11.6% -- but the rally didn't last the hour. By 10:10 a.m. EDT, all three cruise lines had pared their gains back into the middle single digits, with Norwegian shares up only 4.4%, Carnival 4.8%, and Royal Caribbean 5.9%.
Seems investors can't make up their minds what's going on with the cruise industry today. But why can't they?
Source Fool.com
