Norwegian Cruise Line Breaks Hearts, but Not Portfolios
It's time to wipe another month of reservations off of Norwegian Cruise Line Holdings' (NYSE: NCLH) books: The country's third-largest cruise line operator has canceled all sailings through the end of April.
If Norwegian Cruise Line Holdings sails again in May -- and that's a big "if" -- it will mark 414 days since its last embarkation. Norwegian and larger peers Carnival (NYSE: CCL)(NYSE: CUK) and Royal Caribbean (NYSE: RCL) are playing by the Centers for Disease Control and Prevention's demanding guidelines to resume operations. The cancelations are understandably necessary, but still disappointing for many passengers. A growing number of would-be cruise-goers are requesting cash refunds instead of enhanced credit on future sailings.
Shareholders are doing just fine. The stock plummeted through the first few weeks of 2020 when it became clear the pandemic was going to rattle the global travel industry. Still, if you'd bought at the close of March 12 last year -- the last day that a Norwegian Cruise Line ship set sail with paying passengers -- you'd be sitting pretty right now. The stock has more than doubled since then, up 162%. The disconnect between the business and the stock is bizarre.
Source Fool.com
