Amsterdam 2023

Cruise Stocks Easily Outpace Market Rise on Monday

Cruise stocks easily outpaced the market on Monday before retreating. At closing, Carnival was up 3.69 percent at $26,38. Royal Caribbean Group closed at $93.41 up 1.9 percent, but down from a mid-day high of $94.64. Norwegian Cruise Line Holdings (NCLH) was up 0.85 percent at $28.34.

The recovery stands out as it follows the pandemic, which literally crushed the cruise stocks, with Carnival dropping as low as $7.20 in April of 2020; Royal Caribbean dropped to $19.25 in March 2020 and NCLH to $7.03 in March 2020.

The closing prices as of Monday also compare favorably to the respective 52-week low-highs of $12.11-$31.52 for Carnival, $51.33-$99.24 for Royal Caribbean; and $14.77-$34.49 for NCLH.

Longer term, the target prices may be significantly higher, with an all-time high share price of $71.94 for Carnival from January 29, 2018; $135.05 for Royal Caribbean from January 17, 2020; and $63.76 for NCLH from Nov. 2, 2015.

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CIN 2023 Annual Report