Why Royal Caribbean Got Thrashed on Thursday
Thursday wasn't a smooth sail at all for Royal Carribean Cruises (NYSE: RCL). The veteran cruise ship operator's recent struggles were front and center in its latest earnings release, delivered that morning. Many investors headed for the lifeboats, leaving the stock with a more than 5% decline on the day.
The good news for Royal Caribbean is that the broader travel and tourism sector is recovering in a meaningful way from the pandemic, and the great bulk of its fleet capacity (nearly 90%) is currently sailing. That's why first-quarter revenue saw a massive rise, to nearly $1.06 billion from last year's comparatively minuscule $42 million.
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Source Fool.com
