Cruise stocks pull back after record 2023 gains, led by Norwegian, Royal Caribbean share selloffs

Shares of cruise operators were among the worst performers in the S&P 500 to start 2024, after posting record yearly gains in 2023. Norwegian Cruise Line Holdings Ltd.'s stock (NCLH) fell 6.8% to lead the S&P 500's losers, as it headed for a three-week closing low. The stock had soared 63.7% in 2023, to break the previous record of 37.8% in 2019 by a wide margin. The S&P 500's second worst performer was Royal Caribbean Group's stock (RCL), which slumped 6.6%, which puts it on track for the worst one-day performance since it sank 13.2% on Sept. 30, 2022. That comes a day after the stock ended 2023 with a 162% surge for the year, which was the best year since it went public in 1993, topping the previous record of 128.1% in 1997. Carnival Corp. shares (CCL) slid 4.8%, to be the fourth-worst performer in the S&P 500. The stock had rocketed 131% in 2023, beating the previous record of 85.8% in 1991; the stock went public in 1987.

-Tomi Kilgore

This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

01-02-24 1320ET

Copyright (c) 2024 Dow Jones & Company, Inc.