Is Now the Time To Buy Cruise Line Stocks?
I watch what companies are trending in Google searches, and I know many of you are wondering if now is the right time to buy cruise line stocks.
Google’s trending algorithms also tell me there’s a great deal of interest in both Carnival and Royal Caribbean. The idea is that vaccinations for COVID-19 are becoming more readily available, so it’s only a matter of time before Carnival Corp. (NYSE: CCL) and Royal Carribean Cruises Ltd. (NYSE: RCL) shares shoot to the moon.
In fact, since Nov. 16, shares of CCL are up about 25% as of this morning. But over that same time period, shares of RCL, which are almost three times as expensive as CCL, are down about 6%.
I actually turned bullish on cruise stocks back in August and rode the wave to a 40% gain before selling. My thinking was they had their big run up, and they’d likely move down or sideways at best until we had another major catalyst.
So is the COVID-19 vaccine rollout that major catalyst?
Is Now the Time To Buy Cruise Line Stocks?
Maybe a year ago, I would have said, yes, vaccinations are the major catalyst we need to send these beaten-down stocks moving higher. But at this point, for Carnival — and really the same for Royal Carribean — they’ve become more of a “show me” stock.
It’s one thing to see various catalysts we think will help move the shares up. But ultimately, the only thing that matters is what the stock itself does. And looking back at the stock chart of Carnival, it was already in a downtrend dating back to 2018 — and that’s before shares cratered amid the crash from February into March 2020… in the early days of the pandemic.
So check out my short video and we’ll take an in-depth look on whether now is the time to buy cruise line stocks.
And as always, send your investing questions to jeff@yastine.com. Be sure to subscribe to my YouTube channel. You can also follow me on Twitter and Facebook.
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