Cruise line stocks fell suddenly on Monday off a trigger that was not immediately clear to traders.
Royal Caribbean Cruises Ltd. (RCL) slid 3.5%, Carnival Corporation (CCL) shed 3.8%, and Norwegian Cruise Line Holdings Ltd. (NCLH) was down 2.5%. Viking Holdings (VIK) trimmed 1.0%, and Lindblad Expeditions Holdings (LIND) was down 1.8%.
The sector has been seeing some positive sentiment, with cruise demand at an all-time high, as recent projections indicate record-breaking passenger numbers for 2025 and 2026, driven by strong booking activity, pent-up demand, and the perception of cruises as a convenient and high-value vacation.
Cruise line companies are not far away from the beginning of Wave Season in January, when operators launch their most competitive deals and value-added promotions to entice travelers to book voyages for the upcoming year. The “wave” of discounted fares, onboard credits, complimentary upgrades, and other special offers is designed to fill up capacity following the holiday season while customers are planning vacations during the winter months.