Cruise operator Royal Caribbean Cruises Ltd. (RCL) recently reported a wider-than-expected fourth-quarter loss and missed revenue expectations by 5.6%. The stock has lost 25.2% over the past month and 32% over the past nine months to close yesterday’s trading session at $64.54. It also witnessed a decline in hedge fund sentiment.
RCL is currently trading 34.3% below its 52-week high of $98.27, which it hit on November 8, 2021. Moreover, the company warned that omicron created short-term operational challenges that have weighed on its close-in bookings and will likely delay its return to profitability by a few more months. So, RCL’s near-term prospects look bleak.
