Norwegian Cruise Line Stock Sale Makes Sense
The cruise line with the weakest cash position is arming itself with needed liquidity. Fresh from reporting a rough quarterly report -- but backed by a buoyant share price after a double shot of encouraging vaccine news -- Norwegian Cruise Line Holdings (NYSE: NCLH) is filing for a stock sale.
The country's third-largest cruise line operator is offering 40 million shares. The proceeds are being earmarked for "general corporate purposes," but this is ultimately about buying itself more time. The move will raise more than $800 million at current prices, and that will go a long way for Norwegian Cruise Line.
Image source: Norwegian Cruise Line Holdings.
Source Fool.com
