This news has been received from: msn.com

All trademarks, copyrights, videos, photos and logos are owned by respective news sources. News stories, videos and live streams are from trusted sources.

U.S. embraces COVID-19 vaccines, improving odds of herd immunity Manchin perplexes with Covid aid power play © Provided by The Motley Fool Why Norwegian Cruise Line, Royal Caribbean, and Carnival Sank Today What happened

Shares of Norwegian Cruise Line Holdings (NYSE: NCLH) plunged 12% on Friday after it announced another massive stock sale.

Fellow cruise-ship operators Royal Caribbean (NYSE: RCL) and Carnival (NYSE: CCL) (NYSE: CUK) also declined by 5% on the news. 

So what

Norwegian said it will sell roughly 47.6 million shares for $30 per share. It intends to use the approximately $1.4 billion in gross proceeds to buy back debt. The offering price was nearly 9% below the closing price of Norwegian's stock on Thursday. 

Many shareholders apparently didn't appreciate the steep discount -- or the fact that their ownership of the company will be diluted -- and decided to sell their shares.

© Getty Images Cruise-ship stocks fell on Friday.

Video: Cramer on Macquarie upgrade of several cruise line companies (CNBC)

Cramer on Macquarie upgrade of several cruise line companies CNBC See more videos SHARE SHARE TWEET SHARE EMAIL What to watch next
  • How you can save $1 million for retirement

    USA TODAY
  • How much the most populous states pay mail carriers

    GOBankingRates
  • Creepy ways your company can spy on you while you work from home

    Veuer
  • Major companies suspend social media advertising over online hate speech

    CBS News
  • Women and retirement planning

    Money Talks News
  • This bookshop survived earthquakes and recessions. But not this

    CNN Money
  • Jim Cramer on Chesapeake Energy filing for bankruptcy

    CNBC
  • Should you save for retirement or pay down debt?

    Money Talks News
  • Ford just unveiled its 2021 tech-savvy pickup — heres whats new

    CNBC
  • Amazon looking to get into the self-driving car business buys startup for $1B

    Veuer
  • Economic outlook as more Americans file for unemployment

    CBS News
  • 5 items you can sell for additional income

    GOBankingRates
  • 5 practical reasons to put purchases on credit

    GOBankingRates
  • How to prepare for the next recession

    Money Talks News
  • Disney World workers petition to delay reopening of theme park

    CNBC
  • 500 Delta staff have tested positive for COVID-19 and 10 have died

    Veuer
Click to expand Replay Video
  • How you can save $1 million for retirement How you can save a million bucks for retirement USA TODAY
  • How much the most populous states pay mail carriers Americans rely on mail carriers to send and receive their mail. Have you ever wondered how much these essential workers make? GOBankingRates
  • Creepy ways your company can spy on you while you work from home Just because you’re working from home doesn’t mean your boss can’t keep tabs on your every move. Veuer’s Sean Dowling has more. Veuer
UP NEXT

Royal Caribbean and Carnival fell in kind. The size and price of Norwegian's stock offering likely reminded investors that the major cruise lines are not out of the woods yet. With most of their ships still stuck at port due to coronavirus-related voyage postponements, Norwegian, Carnival, and Royal Caribbean are likely to continue to generate losses until the COVID-19 crisis subsides.

Load Error

Now what 

Promising vaccines from the likes of Pfizer, Moderna, and Johnson & Johnson could help to dramatically reduce COVID-19 case counts, which would make it easier for the cruise lines to resume full-scale sailing operations. But until that occurs, cruise-ship stocks remain risky investments.

Joe Tenebruso has no position in any of the stocks mentioned. The Motley Fool recommends Carnival, Johnson & Johnson, and Moderna Inc. The Motley Fool has a disclosure policy.

SPONSORED:

10 stocks we like better than Norwegian Cruise Line Holdings

When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*

David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Norwegian Cruise Line Holdings wasn't one of them! That's right -- they think these 10 stocks are even better buys.

See the 10 stocks

 

*Stock Advisor returns as of February 24, 2021

 

News Source: msn.com

Tags: norwegian’s million for retirement how you can save royal caribbean cruise lines

Tonight we celebrate justice. Bay Area reflects on Derek Chauvin verdict

Next News:

Line Of Duty villain Gregory Piper – who plays hated PC Ryan Pilkington – spotted looking loved-up with girlfriend

LINE Of Duty star Gregory Piper enjoys a break from playing TV’s most-hated character to help teach acting with his girlfriend.

The actor, 23, was all smiles with Becca Fuller, in stark contrast to villain PC Ryan Pilkington.

5Gregory was spotted hand in hand with girlfriend Becca FullerCredit: Splash 5Gregory plays corrupt character PC Ryan Pilkington in Line Of DutyCredit: BBC/World Productions/Steffan Hill

The pair arrived at a West Midlands church where they run drama workshops for young people.

We revealed yesterday that Gregory is being eyed up for a spot on this year’s Strictly.

Most read in CelebrityLive Blog'BULLS**T!'Teen Mom Amber storms off set in fight with ex Gary & host Dr Drew on reunionMACK FIRES BACKMackenzie McKee insists she 'cheated way more' on unfaithful husband JoshYOUNG LOVETeen Mom Young & Pregnant's Lexi Tatman poses in a tiny black dress with fiancé'LOSER'Teen Mom's Cory slammed for missing daughter Mila's birthday for The ChallengeExclusiveCRISIS TALKThe Talk execs fear Carrie Ann will QUIT as they eye Jenna Dewan to replace herExclusiveCARRIED AWAY?Fans suspect Carrie Ann will QUIT The Talk amid 'stress' over Sharon's exit

Gregory first appeared on the police drama when he was just 13 before becoming a key part of this year’s series.

In Sunday’s Line of Duty, Gregory’s corrupt character Ryan was seen threatening to kill fan favourite Kate, played by Vicky McClure, 37.

The episode ended as the two pointed their weapons at each other, before two gunshots were heard.

5The pair arrived at a West Midlands church togetherCredit: Splash 5Gregory and Becca run drama workshops for young peopleCredit: Splash 5The couple smiled as they strolled togetherCredit: Splash Line of Duty shock as Kate Fleming and Ryan Pilkington shoot each other as Jo tries to murder her

Other News

  • Timberwolves vs. Kings odds, line, spread: 2021 NBA picks, April 21 predictions from proven computer model
  • Celebrity MasterChef 2021 line-up revealed as Katie Price, Joe Swash, Rita Simons and Duncan James face off
  • Michigan agency to include climate in tunnel permit review
  • New York Giants: How to solve the last piece to the puzzle on offense
  • Paratrooper, 21, posts smiling selfie just moments before being killed in parachute jump from Blackhawk helicopter at Fort Bragg
  • Stocks making the biggest moves after the bell: Kinder Morgan, Chipotle, Whirlpool & more
  • Former star safety T.J. Ward announces retirement from NFL
  • Photos Show Tom Cruises Epic Mission: Impossible 7 Stunts
  • Julian Edelman Has No Regrets About Retirement; Reveals Favorite Catch Of His Career
  • U.S. Treasurys Yellen says corporate climate commitments help manage financial risks
  • Stocks making the biggest moves midday: Netflix, Norwegian Cruise Line, Intuitive Surgical and more
  • Priced in? Stocks that top estimates are falling during this earnings season
  • 5 Bank Stocks Set to Beat on Q1 Earnings as Economy Rebounds
  • More wealthy investors are going to cash, but millionaire bears are still in the minority
  • Emmerdale bosses hint Tom Cruise is joining the soap after he’s spotted filming near soap’s Yorkshire set
  • These stocks could emerge as big winners from premium retail’s new frontier — your living room
  • Stocks making the biggest moves in the premarket: Welbilt, Netflix, Intuitive Surgical & more
  • Asian shares slide as virus casts shadow over recovery
  • Longtime Pirates infielder Neil Walker announces retirement after 12 MLB seasons