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Why Cruise Stocks Bounced Back on Tuesday

·3-min read
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After cruise stocks sank in response to an analyst's downgrade Monday, investors refloated their boats on Tuesday morning, apparently based on some optimistic commentary from the CEO of Carnival (NYSE: CCL). As of 11 a.m. ET, shares of Carnival had regained 2.6%, Norwegian Cruise Line Holdings (NYSE: NCLH) was up 3.1%, and Royal Caribbean (NYSE: RCL) was leading the pack higher with a 3.9% gain. Citing recession risk, investment bank Stifel Nicolaus "drastically" cut its earnings estimates for Carnival on Monday.

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