Posted 1/2/2024, 8:07:14 PM
Cruise Stocks Sink Despite Recent Positive News as Investors Grow Cautious
- Cruise stocks (Royal Caribbean, Carnival, Norwegian) fell significantly in Tuesday's trading despite recent positive news
- Carnival had better-than-expected earnings last week, but stock still dropped 6.5%
- Norwegian had several price target hikes recently, but still dropped over 8% Tuesday
- Investors growing more cautious overall, moving to defensive sectors like staples
- Among cruise stocks, Carnival rated a Moderate Buy with 20.9% upside; Norwegian the laggard with 1.25% downside