Why Norwegian Cruise Line Shares Are Falling Sharply Today

Norwegian Cruise Line Holdings Ltd NCLH shares are trading lower by 8.96% to $11.35 Wednesday afternoon. Shares of travel and cruise companies are trading lower amid economic concerns. An economic slowdown could lead to decreased consumer spending on travel.

Shares of cruise line operators were also falling sharply last week amid a series of analyst rating updates and price target adjustments.

Peer cruise line operator Carnival Corp CCL shares dipped last week after Morgan Stanley maintained the stock with an Underweight rating and lowered its price target from $13 to $7... Read More

For Carnival, Morgan Stanley cited weaker occupancies and pricing, as well as elevated costs.

Norwegian Cruise Line is the world's third-largest cruise company.

According to data from Benzinga Pro, Norwegian Cruise Line Holding has a 52-week high of $29.45 and a 52-week low of $10.31.