Mar 05, 2021
Why Norwegian Cruise Line, Royal Caribbean, and Carnival Sank Today
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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.
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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 ErrorNow 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:
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News Source: msn.com
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.
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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