17.22 -0.12 (-0.69%)
After hours: 7:58PM EDT
Yahoo Finance's Adam Shapiro team breaks down the latest travel woes as the airlines await more stimulus and cruise lines are stuck in port for another month.
Unfortunately, the COVID-19 pandemic began right around that time and Norwegian Cruise Lines -- and all of the other cruise ship operators -- sank like a rock. Its stock hit a low of $7 per share in mid-March, and though it surged 137% in the months following, Norwegian Cruise Line's stock is only trading around $16.50 per share.
The cruise ship industry will be allowed to take to the high seas again beginning Nov. 1, after the Centers for Disease Control and the White House Coronavirus Task Force on COVID-19 reached an agreement to extend the no-sail ban set to expire today. The CDC wanted to extend the cruise ban all the way to Feb. 15, but compromised to extend it another month to Oct. 31, coinciding with the self-imposed ban industry stalwarts like Carnival (NYSE: CCL)(NYSE: CUK), Royal Caribbean (NYSE: RCL), and Norwegian Cruise Line Holdings (NYSE: NCLH) agreed to independently.