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Why Carnival Stock Dropped Today

TheMotleyFool

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Shares of Carnival (NYSE: CCL) fell as much as 4.3% on Thursday before finally closing the day down 2.6%. If you want to know why, look to Royal Caribbean (NYSE: RCL).

Image source: Getty Images.

All three of the major cruise line stocks suffered declines on Thursday, including Norwegian Cruise Line Holdings (NYSE: NCLH), too. But the catalyst most likely to have started this ball rolling downhill was an announcement from Royal Caribbean that it has decided to sell $1 billion worth of senior unsecured notes due in 2026, at a 5.5% interest rate.

Source Fool.com

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