Why Carnival, Royal Caribbean, and Norwegian Cruise Line Stocks Fell Today
Cruise ship stocks sank on Monday, as alarmingly high COVID-19 case counts threaten to postpone the beleaguered industry's recovery. By the close of trading, shares of Carnival (NYSE: CCL) (NYSE: CUK), Royal Caribbean (NYSE: RCL), and Norwegian Cruise Line Holdings (NYSE: NCLH) were down 7.4%, 3.3%, and 3.4%, respectively.
Even states that have previously been able to rein in the spread of COVID-19 have suffered a resurgence of the disease. Governors in New York and California have warned that their states' hospitals could soon be overwhelmed. To avoid this nightmare scenario, they are enacting emergency measures, including the possibility of new stay-at-home orders.
Cruise ship stocks declined on Monday, as turbulent seas still lie ahead. Image source: Getty Images.
Source Fool.com
