Why Norwegian Cruise Line, Expedia, and Avis Budget Stocks All Dropped Today
Shares of cruise and travel industry stocks shrank in end-of-week trading Friday. Norwegian Cruise Line Holdings (NYSE: NCLH) is dropping another 3.8% in late day trading (3:20 p.m. EDT), adding to yesterday's 1.1% loss after announcing it will not resume cruising until November.
Car rental stock Avis Budget Group (NASDAQ: CAR) is likewise coasting downhill -- 3.4% -- marking its fifth-straight day of losses. Yesterday, Deutsche Bank kept the bad news coming on that one when it cut its price target on Avis Budget stock by $10, to $24 a share.
And then there's Expedia Group (NASDAQ: EXPE).
Source Fool.com
