Why Carnival, Royal Caribbean, and Norwegian Cruise Line Stocks Sank Today
It's Thursday, the day after Hurricane Ian made landfall in Florida -- and cruise line stocks are hurting.
As of 10:30 a.m. ET, shares of Norwegian Cruise Line Holdings (NYSE: NCLH) have shed 4.7% of their value, Carnival Corporation (NYSE: CCL) is down 5.2%, and Royal Caribbean (NYSE: RCL) is leading the sector lower with a 5.5% loss.
The hurricane is the obvious catalyst for today's sinking stocks. According to the Cruise Industry News website, multiple cruise lines -- including Carnival and Norwegian, as well as other lines such as Disney and MSC -- have canceled cruises ahead of Ian's arrival. On the plus side, Port Canaveral is expected to be back open for business as early as Friday -- but depending on the damage done to the region, that could change, and further cancelations or delays can't be ruled out.
Source Fool.com
