Why Norwegian Cruise Line Stock Dropped Today
Embattled cruise line stock Norwegian Cruise Line Holdings (NYSE:NCLH) suffered a steep sell-off in shares Tuesday morning. The stock is recovering in early afternoon trading, but is still down about 2% as of 12:50 p.m. EST.
It's not hard to figure out why. This morning, Norwegian Cruise Line announced plans to sell $500 million aggregate principal amount of its senior notes due 2026. Or in basic English: Norwegian Cruise is taking out a loan, and adding $500 million to its debt load to help tide it over through the pandemic.
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Source Fool.com
