Cruise stocks lead S&P 500’s losers after Royal Caribbean’s $1 billion in stock, debt offerings

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Shares of cruise companies took a beating Tuesday, with Royal Caribbean Group hit the hardest after announcing a total of $1 billion worth of public stock and private convertible debt offerings, and providing a bookings update.

Royal Caribbean’s stock

dove 13.2% in afternoon trading, to pace all of the S&P 500 index’s

decliners. The stock is on track for the biggest one-day decline since it tumbled 14.3% on June 11.

Trading volume jumped to 14.8 million shares, or more than double the full-day average of about 6.2 million shares, according to FactSet.

The stock’s selloff also weighed on Royal Caribbean’s peers, as shares of Norwegian Cruise Line Holdings Ltd.

dropped 7.3% to be the second-biggest S&P 500 loser, and Carnival Corp.

slid 7.2% to be the third-biggest decliner.

Royal Caribbean said before the open that it had commenced a public

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Royal Caribbean’s cruise to nowhere sees bookings go up by 500%, first sailing almost sold out

Following the announcement of cruises to nowhere in Singapore, two cruise lines — Royal Caribbean and Dream Cruises — unveiled its slate of packages (to nowhere).

And it seems cruises to nowhere are quite a hit among Singapore residents.

First sailing almost sold out

In response to Mothership queries, managing director for Royal Caribbean Group Asia Pacific Angie Stephen shared that customer demand has “exceeded expectations”.

a large ship in a body of water: Photo from Royal Caribbean Cruise.

© Provided by Mothership
Photo from Royal Caribbean Cruise.

As cruises can only cater up to 50 per cent occupancy for now, Royal Caribbean’s Quantum of the Seas can accommodate up to approximately 2,000 guests at one time.

Bookings have gone up 500 per cent compared to the past two weeks and as of the time of writing, the first sailing on Dec. 1 is almost sold out.

The cruise line has seen a demand for its December sailings and it isn’t surprising since

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Don’t Be Fooled by Royal Caribbean’s Recent Surge

InvestorPlace – Stock Market News, Stock Advice & Trading Tips

Royal Caribbean’s (NYSE:RCL) ships are docked since March, but RCL stock is surprisingly up 34% in the past two months. There’s nothing to justify the increase at this point, with the company’s debt ballooning and a bleak outlook for the rest of the year. Therefore, it’s clear that RCL stock is overvalued at this point.

Source: Venturelli Luca /

The novel coronavirus clouded over the cruise industry and continues to push back restart dates. Even the November window seems impractical for U.S. cruiseliners due to the election and the new year activities.

RCL is burning over $200 million each month during the suspension and is raising debt to stay afloat. Hence, the upside in investing in RCL stock is minimal at this stage.

Rough Seas Ahead

The cruise sector has been in free fall since the Covid-19

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Everything you need to know about Royal Caribbean’s loyalty program

a large ship in a body of water

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Many cruise lines have fantastic loyalty programs that are too often overlooked. I started earning cruise line status before airline status when I took my first Royal Caribbean cruise in 2003 and found myself loving the seagoing life.

After 17 years of cruises on multiple lines, I find myself enjoying Royal Caribbean and the Crown & Anchor Society the most out of my cruise line and cruise line loyalty experiences. Today we’ll cover everything you need to know about the Crown & Anchor Society.

Related: A beginner’s guide to cruise line loyalty programs

Crown & Anchor Society basics

a boat is docked at the beach: The pool deck on Royal Caribbean’s Symphony of the Seas. (Photo courtesy of the cruise line)

© The Points Guy
The pool deck on Royal Caribbean’s Symphony of the Seas. (Photo courtesy of the cruise line)

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