Are These The Top Cruise Line Stocks To Watch In September 2020?
In 2020 cruise line stocks have been in quite a bit of trouble. The travel industry shut down in late February to March when the coronavirus pandemic took over the world. Some of the earliest cases of the coronavirus outside of China were on cruise ships. This shut down the cruising industry right away. No sail orders were issued by the government and now these companies had to figure out how they can stay afloat.
The cruise line industry could be making a comeback though. This all depends on when cruise ships can get sailing once again. But travel stocks line Lindblad Expeditions Holdings Inc. (LIND Stock Report) and American Airlines (AAL Stock Report) are still in trouble. The travel industry as a whole will trend upwards when reopening and vaccine news is announced. So let’s talk about why some cruise line stocks are climbing upwards.
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Top Cruise Line Stocks To Watch In September 2020: Carnival Corp.
The first cruise line stock to watch is Carnival Corporation (CCL Stock Report). Carnival is the world’s largest travel company with more than 100 vessels on the sea. Carnival has gone up around 13% from August 26th to 28th. This is because a coronavirus test announced to be coming from Abbott Laboratories (ABT Stock Report). This test is reportedly a quick COVID-19 test that takes only 15 minutes to use and costs only $5.
Shares of CCL stock are still very low compared to their fully operational price. CCL stock price is at $17.24 a share on August 28th. At the start of 2020, CCL stock was at $42 a share on average. When news similar to this Abbott Laboratories report is released, it causes travel stocks to go up. That is why CCL stock is a cruise line stock to watch at the moment.
Top Cruise Line Stocks To Watch In September 2020: Royal Caribbean Group
The next cruise line stock to watch is Royal Caribbean Group (RCL Stock Report). By revenue, Royal Caribbean is the largest cruise line company in the world. By passengers, it is the second-largest cruise line. Royal Caribbean actively holds 14% of the cruise line market by revenue and 19% by passengers. Royal Caribbean is trending upwards for the same reason as CCL stock. The Abbott Laboratories test could make it much safer and easier for people to travel in the future.
RCL stock was at $135 a share back in January. As of August 28th, RCL stock price is at $70 a share on average. This is up almost 13% from the RCL stock price of $62 a share on August 26th. In just one month, RCL stock is up 40%. That is what makes Royal Caribbean a cruise liner that should be on your list of cruise line stocks to watch.
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Top Cruise Line Stocks To Watch In September 2020: Norwegian Cruise Line Holdings Ltd.
The final cruise line stock to watch is Norwegian Cruise Line Holdings Ltd. (NCLH Stock Report). Norwegian Cruise Line Holdings Ltd. Is the third largest cruise line company in the world. The corporation owns 8.7% of the cruise ship industry. Just like the other two cruise line stocks on this list, NCLH stock is trending because of Abbott Laboratories. So let’s have a look at how NCLH stock has been performing in the market.
At the start of 2020, NCLH stock price was at $60 a share on average. As of August 28th, that number has been reduced to just $17 a share on average for NCLH stock. Just like many other cruise line stocks, NCLH stock price has spiked in the last few days. On August 26th, NCLH stock price was at $15 a share. So NCLH stock has gone up more than 13% in just a couple of days.
If these cruise line stocks can keep this positive momentum going, maybe they can open soon. That all depends on how soon the world comes up with a feasible coronavirus vaccine and treatment. These tests from Abbott Laboratories are a step in the right direction for safer means of travel. That is why these cruise line stocks are trending the week of August 24th, 2020.
