Shares of Cruise Operators Struggle in 2024 After Record Gains in 2023

by webmaster

Shares of cruise operators in the S&P 500 have had a rough start to 2024, following their remarkable performance in 2023. Among the worst performers is Norwegian Cruise Line Holdings Ltd. (NCLH), whose stock fell by 6.8%, leading the losers in the S&P 500. This drop has brought the stock to a three-week low. In 2023, Norwegian Cruise Line Holdings saw an impressive surge of 63.7%, surpassing the previous record set in 2019 of 37.8% by a significant margin.

Royal Caribbean Group (RCL) has also faced a setback, with its stock slumping by 6.6%, marking its worst one-day performance since September 30, 2022, when it plummeted by 13.2%. However, it’s important to note that Royal Caribbean Group ended 2023 with an extraordinary surge of 162%, making it their best year since going public in 1993 and surpassing the previous record set in 1997 of 128.1%.

Carnival Corp. (CCL) shares have also experienced a decline, sliding by 4.8% and ranking as the fourth-worst performer in the S&P 500. In 2023, Carnival Corp.’s stock soared by an impressive 131%, surpassing their previous record from 1991 of 85.8%. It’s worth mentioning that Carnival Corp. went public in 1987.

It seems that the cruise industry’s triumphant year in 2023 has come with some challenges in the following year. Investors will be watching closely to see how these cruise operators navigate the changing tides and work towards sustained growth in the future.

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