Why Norwegian Cruise Line Was Up Over 37% in November
Shares of Norwegian Cruise Line Holdings (NYSE: NCLH) were up 37.5% in November, according to data provided by S&P Global Market Intelligence. The waters were choppy during the month -- the company received a mix of good and bad news. However, investors were optimistic with the developments in November, leading to the stock's market-beating gains.
First the bad news: On Nov. 9, Norwegian announced third-quarter "earnings." It's probably more accurate to say it reported third-quarter losses. With cruises cancelled, the company had almost zero revenue, resulting in a $677 million loss. Analysts obviously expected losses, but it was even worse than feared. Shortly thereafter, the company issued new shares to address liquidity concerns, sending the stock lower.
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Source Fool.com
