Why Are Cruise Stocks Powering Up Today?
Source: Kokoulina | Shutterstock.com Cruise stocks are racing higher on Wednesday, with the top names all up nicely on the session. As of this writing, Norwegian Cruise Line (NYSE: NCLH ) is up 8%. Meanwhile, Royal Caribbean (NYSE: RCL ) and Carnival Cruise (NYSE: CCL ) are both up more than 5%. With today’s rally, cruise stocks across the board are well off their lows. In fact, at today’s highs, all three stocks shot up more than 30% from their 2022 lows. This morning, Jefferies analysts also noted that prices have been “stabilizing at higher levels,” pointing out notable strength in luxury cruise options. That builds on the idea that experienced cruise-goers will continue to cruise, helping fuel the current move higher. According to a recent survey , 91.4% of surveyed travelers “reported they plan to take a cruise within the next year.” Meanwhile, 2.5% said they would not cruise in the next year. The remaining 6.1% are still undecided. Interestingly, though, cruise stocks lacked upside momentum despite soaring travel trends toward the beginning of summer.
Why Are Cruise Stocks Powering Up Today?
Source: Kokoulina | Shutterstock.com Cruise stocks are racing higher on Wednesday, with the top names all up nicely on the session. As of this writing, Norwegian Cruise Line (NYSE: NCLH ) is up 8%. Meanwhile, Royal Caribbean (NYSE: RCL ) and Carnival Cruise (NYSE: CCL ) are both up more than 5%. With today’s rally, cruise stocks across the board are well off their lows. In fact, at today’s highs, all three stocks shot up more than 30% from their 2022 lows. This morning, Jefferies analysts also noted that prices have been “stabilizing at higher levels,” pointing out notable strength in luxury cruise options. That builds on the idea that experienced cruise-goers will continue to cruise, helping fuel the current move higher. According to a recent survey , 91.4% of surveyed travelers “reported they plan to take a cruise within the next year.” Meanwhile, 2.5% said they would not cruise in the next year. The remaining 6.1% are still undecided. Interestingly, though, cruise stocks lacked upside momentum despite soaring travel trends toward the beginning of summer.