Why Cruise Line Stocks Are Trading Lower Today

Shares of several cruise line companies Carnival Corporation CCL, Royal Caribbean Group RCL and Norwegian Cruise Line Holdings Ltd NCLH are trading lower amid a report that Carnival will reduce its staff by thousands of employees.

Carnival Cruise is taking steps to terminate and/or not renew the contracts of employment of several thousands of officers and crew members throughout its fleet, according to CruiseLineNews.

Royal Caribbean's stock was trading down 8.3% at $59.94 per share on Monday at the time of publication. The company has a 52-week high of $135.32 and a 52-week low of $19.25.

Carnival's stock was trading down 6.8% at $14.26. The company has a 52-week high of $51.94 and a 52-week low of $7.80.

Norwegian's stock was trading down 8.6% at $14.85. The company has a 52-week high of $59.78 and a 52-week low of $7.03.