Cruise Stocks Fall After Halting Trips From US Ports

Royal Caribbean Cruises RCL, Carnival Cruise CCL and Norwegian Cruise Line NCLH traded sharply lower on Friday afternoon.

What Happened: The Cruise Lines International Association (CLA) issued a statement announcing its ocean-going cruise line members will voluntarily extend the suspension of cruise operations from U.S. ports until Sept. 15, 2020.

Cruise liners have been hit due to the coronavirus pandemic that's continuing to harm the travel industry. The current “No Sail Order” issued by the U.S. Centers for Disease Control and Prevention was expected to expire on July 24.

Voluntarily Extension: "Due to the ongoing situation within the U.S. related to COVID-19, CLIA member cruise lines have decided to voluntarily extend the period of suspended passenger operations,” CLA said in a statement.

The extension will allow the cruise lining association to consult with the CDC on measures that will be appropriate for the eventual resumption of cruise operations.

See Also: Here's How Long Carnival, Norwegian And Royal Caribbean Can Last Without Revenue

Cruise Line Price Action: Carnival Cruise shares were down 5.95% at $17.71 at the time of publication. The stock has a 52-week high of $51.94 and a 52-week low of $7.80.

Royal Caribbean Cruises shares were down 7.31% at $55.04. The stock has a 52-week high of $135.32 and a 52-week low of $19.25.

Norwegian Cruise Line shares were down 7.46% at $17.91. The stock has a 52-week high of $59.78 and a 52-week low of $7.03.