Cruise Line Stocks Finally Get What They Want -- and the Stocks Go Down?
Cruise line stocks got the closest thing to a green light to set sailing again this summer. The U.S. Centers for Disease Control is relaxing its guidelines, allowing Carnival (NYSE: CCL)(NYSE: CUK), Royal Caribbean (NYSE: RCL), and Norwegian Cruise Line Holdings (NYSE: NCLH) to resume revenue-generating voyages as soon as mid-July.
It wasn't enough. In a cruel and quite frankly surprising "sell the news" moment the stocks failed to rally on the announcement. Carnival took a 2% hit on Thursday following the Wednesday night development. Royal Caribbean -- the best performing of the three stocks through the pandemic -- suffered a 3% slide on the trading day. Only Norwegian Cruise Line kept its head above water, but the 0.3% gain was less than half of the S&P 500's ascent. Thursday was a great day for the industry, but ultimately a forgettable one for its stakeholders.
Image source: Getty Images.
Source Fool.com
