Why Cruise Line Stocks Plunged Again Today
The cruise line industry can't seem to catch a break in 2020 and there aren't any indications that conditions for the industry are going to get better. Not only is the CDC advising against cruise line travel, the number of COVID-19 cases in the U.S. are quickly rising and that raises questions about how long it will be until people want to take cruises.
Shares of the biggest names in the industry were down nearly double digits in early trading. Royal Caribbean's (NYSE: RCL) shares fell as much as 6.6%, Carnival Corporation (NYSE: CCL) (NYSE: CUK) dropped 9.9%, and Norwegian Cruise Line Holdings (NYSE: NCLH) fell 9%. Shares of the companies were down 6%, 9.6%, and 8.6% at 11:40 a.m. EDT.
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Source Fool.com
