Why Shares of Royal Caribbean Are Slumping Today
Shares of Royal Caribbean (NYSE: RCL) were down more than 3.5% midway through the trading day. The stock, which closed at $74.49 on Tuesday, opened at $73.15 on Wednesday and fell as low at $70.82 by 10 a.m. EDT. It's part of a trend. The stock is down slightly more than 10% over the past month and down more than 3% for the year.
Image source: Getty Images.
The slump can be attributed to the release of the company's second-quarter report, which concerned investors for several reasons. First, the company gave somewhat cloudy guidance for the remainder of the year, saying it expects a net loss in the third quarter and for the rest of the year, but declined to actually forecast numbers.
Source Fool.com
