Why Norwegian Cruise Line Shares Dropped 18% in July
Cruise operators, and their stocks, had been some of the hardest hit by the pandemic, for obvious reasons. But as the prospect of COVID-19 vaccines became a reality in the second half of 2020, investors piled back into these recovery stocks. Shares of Norwegian Cruise Line Holdings (NYSE: NCLH) steadily climbed from last year's lows as hopes of a broad reopening and resumption of travel and tourism gained steam. But those hopes, and the stock, have hit some speed bumps, and shares are down 30% since May, including a drop of 18.3% in the month of July alone, according to data provided by S&P Global Market Intelligence.
To help lure guests back to its cruises, Norwegian committed to 100% vaccination of all applicable guests and crew on all initial voyages, in addition to other safety measures. But recent news of the fast-spreading COVID delta variant and breakthrough infections that are being reported among vaccinated individuals have investors backing away from reopening names.
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Source Fool.com
