Why Cruise Line Stocks Popped (and then Dropped) on Tuesday
The whipsaw for cruise-line stocks continued on Tuesday, but this time stocks are trading higher. Carnival Corp. (NYSE: CCL) rose as much as 13.7% mid-day, Royal Caribbean Cruises (NYSE: RCL) was up 19.8%, and Norwegian Cruise Line Holdings (NYSE: NCLH) rose 16.1%. Each stock fell off as the day wore on, with shares up a more modest 0.9%, 4.9%, and 3.2% respectively at 3:30 p.m. EDT.
Cruise stocks are reacting to even the slightest bit of news these days, and today it was news that Carnival is trying to get another $6 billion in debt and equity that sent the entire industry higher.
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Source Fool.com
