Patterns Suggest Royal Caribbean Stock Will Fall Again on Fed News
Royal Caribbean Cruises (NYSE: RCL ) stock has been at the center of the Covid-19 pandemic conversation along with the other major cruise lines. Most investors now know that cruise stocks took on massive debt, suffered large losses, and are looking forward to a period in which they can deleverage themselves. That was where Royal Caribbean looked to be heading earlier in the second quarter (Q2). It was back on May 5 that the company released Q1 earnings . Those earnings provided at least some reason for positivity. Despite reporting an earnings per share (EPS) of negative $4.58 per share on a $1.2 billion net loss , there was good news. For one, that EPS loss was slightly better than the $4.66 loss a year prior. And momentum is momentum, no matter how slight. More to the point, though, Royal Caribbean revenues reached $1 billion , up substantially from the $42 million it recorded a year earlier. Long story short, there was reason to believe the worst was over and that the company could be entering the beginning of a great deleveraging of the debt it took on throughout the pandemic as its ships lay anchored.
Patterns Suggest Royal Caribbean Stock Will Fall Again on Fed News
Royal Caribbean Cruises (NYSE: RCL ) stock has been at the center of the Covid-19 pandemic conversation along with the other major cruise lines. Most investors now know that cruise stocks took on massive debt, suffered large losses, and are looking forward to a period in which they can deleverage themselves. That was where Royal Caribbean looked to be heading earlier in the second quarter (Q2). It was back on May 5 that the company released Q1 earnings . Those earnings provided at least some reason for positivity. Despite reporting an earnings per share (EPS) of negative $4.58 per share on a $1.2 billion net loss , there was good news. For one, that EPS loss was slightly better than the $4.66 loss a year prior. And momentum is momentum, no matter how slight. More to the point, though, Royal Caribbean revenues reached $1 billion , up substantially from the $42 million it recorded a year earlier. Long story short, there was reason to believe the worst was over and that the company could be entering the beginning of a great deleveraging of the debt it took on throughout the pandemic as its ships lay anchored.