Why Carnival and All the Other Cruise-Line Stocks Just Crashed
Cruise-tourism stocks tumbled in Thursday-afternoon trading, as Norwegian Cruise Line Holdings (NYSE: NCLH) slid 3.8%, Carnival Corporation (NYSE: CCL) sank 4.4%, and Royal Caribbean (NYSE: RCL) brought up the rear with a 4.8% decline. If you own any of these three cruise stocks, you can thank Carnival for your losses today.
This morning, Carnival filed its 10-K annual report with the SEC and described the "recent developments" affecting its business -- and perhaps that of other cruise lines, as well. As of two weeks ago, reports Carnival, 67% of the company's "capacity" across eight of its nine cruise brands had resumed cruising, and Carnival expects "to have our full fleet back in operation for our summer season where we historically generate the largest share of our operating income."
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Source Fool.com
