Why Royal Caribbean, Carnival, and Norwegian Cruise Line Stocks Surged Today
Cruise ship stocks climbed on Monday as declining COVID-19 case counts gave investors hope that the beleaguered industry could begin to recover in the coming months.
By the close of trading, shares of Royal Caribbean (NYSE: RCL), Norwegian Cruise Line Holdings (NYSE: NCLH), and Carnival (NYSE: CCL) (NYSE: CUK) were up 9%, 6%, and 6%, respectively.
With most of its ships stuck at port due to coronavirus-related sailing restrictions, Royal Caribbean suffered a net loss of $1.4 billion, or $6.09 per share, in the fourth quarter. For the full year, the cruise operator's losses amounted to $5.8 billion, or $27.05 per share. "These results reflect the staggering impact that the pandemic brought to our company and the whole industry during 2020," Chief Financial Officer Jason Liberty said in a press release.
Source Fool.com
