Royal Caribbean’s stock surges toward 1-year high, and longest win streak in 4 years

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Shares of Royal Caribbean Group
RCL,
+7.28%
charged up 6.1% toward a one-year high in premarket trading, putting them on track for the longest win streak in nearly four years, as hopes for a faster post-COVID recovery fueled by a continued boost from the Federal Reserve prompted a broad-market rally. The stock has now rallied Tk during a seven-session win streak, which would be the longest such streak since it rose for nine straight days in April 2017. On Monday, the cruise operator reported a narrower-than-expected fourth-quarter loss, although revenue fell more than forecast. “While bookings remain below historical levels, we have been constantly impressed and humbled with a number of cruises booked throughout this extended out-of-service period,” said Chief Financial Officer Jason Liberty, according to a FactSet transcript. “It’s clear that a lot of people want to cruise.” Meanwhile, shares of fellow cruise operators Carnival Corp.
CCL,
+2.55%
climbed 3.6% and Norwegian Cruise Line Holdings Ltd.
NCLH,
+9.45%
surged 8.2%, while the S&P 500
SPX,
+1.13%
rallied 1.0%.

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