Why Norwegian Cruise Line Stock Rose 4.4% Today
Shares of Norwegian Cruise Line Holdings (NYSE: NCLH) climbed nearly 5% on Thursday, following the release of the cruise company's first-quarter results.
With its ships stuck in port due to the coronavirus-related sailing restrictions, Norwegian generated a staggering net loss of $1.88 billion, or $8.80 per share, in the first quarter. Even after adjusting for a $1.6 billion impairment charge, Norwegian's adjusted net loss came in at $0.99 per share. That was far worse than the $0.28 loss Wall Street had expected.
Still, investors appear to be taking solace in Norwegian's statement that it's "well-positioned to withstand over 18 months of voyage suspensions" after raising cash via stock sales and debt offerings.
Source Fool.com
