Do You Have These Top Cruise Line Stocks On Your Watchlist To Close Out The Year?
Cruise line stocks have been a large struggle point of the market in 2020. Back in February and March, the travel industry went to a standstill once the coronavirus pandemic was at large. Cruise ships were one of the earlier carries of the coronavirus. This made the cruise industry shut down indefinitely. Many governments issued no sail orders, so these companies had to start figuring out ways to stay alive.
It is possible for the cruise line industry to make a comeback once other travel companies do too. These effects have hurt the airline industry as well, including American Airlines (AAL Stock Report) and United Airlines (UAL Stock Report). Vaccine news is the primary culprit for top cruise ship stocks going up at the moment. Let’s look at three cruise line stocks that are performing well in 2020.
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Top Cruise Line Stocks To Watch In Q4 2020: Carnival Corp.
First up on this list of cruise line stocks is Carnival Corporation (CCL Stock Report). Carnival Corporation is the largest travel company in the world and operates more than 100 vessels. Back in August, CCL stock went up the week of August 26th. This was due to a coronavirus test being announced by Abbott Laboratories (ABT Stock Report) that could allegedly produce results in 15 minutes, at a cost of $5. Now it has been announced that the CDC no sail order will end on October 31st. This means that cruise ships can set sail as soon as November 1st.
This news has caused an uptick in CCL stock price this week. On September 24th, CCL stock was at $13 a share on average. Now on September 30th, it is at $15.18 a share on average. These no sail orders were supposed to be extended to February 15th by the CDC but were canceled by the White House.
CCL stock price is still much lower than its previous price. At the start of 2020 CCL stock was at $42 a share on average. It will be interesting to see how soon Carnival is able to get its cruise ships fully operational, and what attendance numbers will look like for the company after that is done.
Top Cruise Line Stocks To Watch In Q4 2020: Norwegian Cruise Line Holdings Ltd.
This next cruise line company, Norwegian Cruise Line Holdings Ltd. (NCLH Stock Report), was also badly affected by the coronavirus. In fact, at the start of 2020, it was at $60 a share on average. On September 30th, that number has dwindled to just $17.11 a share on average.
But just like the other cruise line stocks on this list, that $17 is higher than it was at on previous days. This is also due to the news that the no sail orders may be over on October 31st. The competition is real in this industry so we will see which one can take advantage of the market opening.
Norwegian is currently the third largest cruise line company in the entire world, owning 8.7% of the industry. This company is also affected by news that comes out pertaining to the coronavirus vaccine potential. Investors are wondering if cruise line stocks will be able to make a full recovery once traveling becomes more normal as it used to be. Most of these companies are in debt due to the effects of 2020, so whoever can recover the best will see the most positive results for their respective company.
Top Cruise Line Stocks To Watch In Q4 2020: Royal Caribbean Group
Last but not least on this list of cruise line stocks to watch is Royal Caribbean Group (RCL Stock Report). Royal Caribbean Group is the largest cruise line company in the entire world. Additionally, it is the second-largest cruise line in the world by passengers. The company holds more than 14% of the cruise line market by revenue and 19% by passengers. That makes it a top candidate for recovery if this sector is able to perform better. The Abbott news back in August and the current no sail orders news is the reason that RCL stock is going up at the moment.
RCL stock was at $135 a share when this year began. Now, RCL stock price is at $64 a share on average. In the last 6 months though, RCL stock price has gone up 166% from $24 a share to $64 a share as of September 30th.
Additionally, The Galveston Wharves Board of Trustees announced it will spend $94k for upgrading its cruise terminals. This includes installing bathroom touchless features, Plexiglas, air purifiers, sterilizers, and more. This will make the port safer for people, adding another reason for one possibly wanting to travel. That is why RCL stock and the other cruise line stocks on this list, have made this list.