Why Cruise Line Stocks Keep Going Down
Cruise stock investors are still sailing into hot water as the summer sailing season approaches its end. For the past four days running, shares of both Carnival Corporation (NYSE: CCL) and Royal Caribbean (NYSE: RCL) have gone nowhere but down -- and even Norwegian Cruise Line Holdings (NYSE: NCLH) notched only a single "up" day in the series. On Monday, the trend continues, with Carnival stock down 3.9% as of 11:15 a.m. ET, followed by Royal Caribbean with a 3.7% loss, and Norwegian Cruise sliding only 3%.
Curiously, though, the only "bad" news on the cruisers today concerns that stock that's losing least: Norwegian Cruise.
Specifically, on Friday, Howard Sherman, the CEO of Norwegian Cruise subsidiary Oceania Cruises, filed a Form 4 with the SEC disclosing the sale of 86,225 shares of the parent company's stock at an average price of $13.63 per share.
Source Fool.com
