Citi Leisure Analyst James Hardiman joins Yahoo Finance Live to discuss the decline in cruise stocks ahead of the summer travel season, the demand for travel amid inflation, the state of the economy, and the outlook for the cruise line sector.
Not only is the broader market's decline dragging down their share prices, but there are also fears that the companies are seeing pricing pressure for tickets. Carnival (NYSE: CCL) fell by as much as 8.7% in early trading, while Royal Caribbean Cruises (NYSE: RCL) dipped as much as 8.4%, and Norwegian Cruise Line Holdings (NYSE: NCLH) dropped 9.2%. On Wednesday, Morgan Stanley analyst Jamie Rollo said in a report that he was worried that cruise line companies could ultimately face insolvency if their business conditions don't improve soon.
Lisa Erickson, U.S. Bank SVP & Public Markets Group Head, and Sound Planning Group CEO David Stryzewski sit down with Yahoo Finance Live to assess choppy trading environments, volatility following the Fed's interest rate hikes, and the takeaways from consumer confidence readings on market outlooks.