Norwegian Cruise Line Holdings Ltd (NYSE:NCLH) shares are trading lower by 3.2% to $16.40 Friday afternoon. Shares of cruise line stocks are trading lower in sympathy with Carnival Corp (NYSE:CCL) after the company reported third-quarter financial results and issued guidance.
Why It Matters
Cruise line stocks often move together because they are part of the same industry. When one major player, like Carnival, reports disappointing results or provides negative guidance, it can create negative sentiment across the entire cruise industry.
This can lead investors to sell off stocks of other cruise lines, including Norwegian Cruise Line.
What Happened?
Carnival reported third-quarter FY23 sales growth of 59% year-on-year to $6.85 billion, beating the analyst consensus of $6.69 billion.
Passenger Cruise Days (PCD) increased 45% Y/Y to 25.8 million. Occupancy for the third-quarter was 109%. Available lower berth days (ALBD) for the third-quarter were 23.7 million…Read More
According to data from Benzinga Pro, NCLH has a 52-week high of $22.75 and a 52-week low of $10.83.
