- The stock price of Royal Caribbean Cruises (NYSE: RCL) increased by 9.22% today. This is why it happened.
The stock price of Royal Caribbean Cruises (NYSE: RCL) increased by 9.22% today. Investors appear to be buying the dip in the company shares following a drop this week.
Since the discussions of the omicron variant of COVID-19 surfaced a few days ago, the stock price of Royal Caribbean fell over 8%. Yesterday, the stock price of Royal Caribbean fell over 10% after it was reported that someone with the omicron variant of COVID-19 was discovered in California. Many investors decided to buy the stock back at this lower price.
Plus investors appear to be potentially responding positively to a report from the December edition of the “Cruise Ships in Service Report” by Cruise Industry News that 239 cruise ships are set to operate from 68 brands globally. This is 9 more ships (net) than November as some smaller ships are laying up for the winter and 28 additional ships are marking their comeback.
Royal Caribbean International is expected to be the largest brand in service in December with 20 ships sailing according to Cruise Industry.
Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.