Norwegian Cruise Lines up 42% today

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jpmorganfunds
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Norwegian Cruise Lines up 42% today

Post by jpmorganfunds »

Norwegian Cruise Lines (NCLH) is up 42% today. Did everyone suddenly decide to go on a cruise today? :confused
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Corsair
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Re: Norwegian Cruise Lines up 42% today

Post by Corsair »

There is a $6 trillion package coming out, they're getting some :moneybag :moneybag :moneybag

"Kudlow says stimulus packages will total $6 trillion, including $4 trillion of lending and programs from the fed."
All posts are my own opinions and are not financial advice.
Starfox
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Re: Norwegian Cruise Lines up 42% today

Post by Starfox »

.....
Last edited by Starfox on Sun Nov 08, 2020 8:51 am, edited 1 time in total.
fatFIRE
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Re: Norwegian Cruise Lines up 42% today

Post by fatFIRE »

Corsair wrote: Tue Mar 24, 2020 6:06 pm There is a $6 trillion package coming out, they're getting some :moneybag :moneybag :moneybag

"Kudlow says stimulus packages will total $6 trillion, including $4 trillion of lending and programs from the fed."
Go big or go home eh?
milktoast
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Re: Norwegian Cruise Lines up 42% today

Post by milktoast »

Did the Bahamian government announce a bailout for their ships?
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ironman
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Re: Norwegian Cruise Lines up 42% today

Post by ironman »

It was up +60% when my limit order executed in my fun money account. Norwegian is HQed in Miami so bailout money is more likely to be a factor than offshore cruise companies. It was a fun distraction from the bloodshed in my 3 fund portfolio recently.
MotoTrojan
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Re: Norwegian Cruise Lines up 42% today

Post by MotoTrojan »

It’s still down nearly 77% YTD. I don’t think many decided they needed a sudden cruise.
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jpmorganfunds
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Re: Norwegian Cruise Lines up 42% today

Post by jpmorganfunds »

Corsair wrote: Tue Mar 24, 2020 6:06 pm There is a $6 trillion package coming out, they're getting some :moneybag :moneybag :moneybag

"Kudlow says stimulus packages will total $6 trillion, including $4 trillion of lending and programs from the fed."
"Carnival, Royal Caribbean, and Norwegian Cruise Lines, all of which are incorporated abroad, don’t qualify for financial assistance as outlined by the Senate’s $2 trillion stimulus bill."

Oops.
SRenaeP
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Re: Norwegian Cruise Lines up 42% today

Post by SRenaeP »

ironman wrote: Tue Mar 24, 2020 8:11 pm It was up +60% when my limit order executed in my fun money account. Norwegian is HQed in Miami so bailout money is more likely to be a factor than offshore cruise companies. It was a fun distraction from the bloodshed in my 3 fund portfolio recently.
I purchased a few shares just for the heck of it and got an email from Vanguard yesterday about a class action suit.

Notice is hereby given that a class action lawsuit has been filed on behalf of those who purchased or otherwise acquired Norwegian Cruise Line Holdings Ltd. (“Norwegian”) (NYSE: NCLH) securities from February 20, 2020 through March 12, 2020, both dates inclusive (the “Class Period”).

According to the complaint, Norwegian is a global cruise company which operates the Norwegian Cruise Line, Oceania Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises brands. On August 1, 2017, Norwegian updated its Code of Ethical Business Conduct, which is posted on its website. The Code of Ethical Business Conduct, available throughout the Class Period, discussed health and safety standards, stating in relevant part that its environmental, health and safety “programs are designed to ensure the preservation of the environment, and safety and security of [Norwegian]’s guests, team members and vendors.” In December of 2019, a novel coronavirus strain, COVID-19, was detected in the city of Wuhan in Hubei province, China. Since then, the virus has spread to numerous countries. The spread of COVID-19 has had a significant impact on the cruise industry, with reports of canceled trips and half-empty ships.

The Class Period commences on February 20, 2020, when Norwegian filed a Form 8-K with the SEC. Attached to the Form 8-K was a press release reporting on Norwegian’s financial results for the quarter and full year ended December 31, 2019. In that press release, the defendants discussed positive outlooks for Norwegian in spite of the COVID-19.

On March 11, 2020, the Miami New Times reported in an article “Leaked Emails: Norwegian Pressures Sales Team to Mislead Potential Customers About Coronavirus” that leaked emails from a Norwegian employee showed that Norwegian directed its sales staff to lie to customers regarding COVID-19. Further, the Miami New Times article revealed the financial impact the COVID-19 outbreak was causing on Norwegian and its employees. Following this news, Norwegian’s share price fell $5.47 per share, or approximately 26.7%, to close at $15.03 per share on March 11, 2020.

The complaint alleges that, throughout the Class Period, the defendants made false and/or misleading statements and/or failed to disclose that: (1) Norwegian was employing sales tactics of providing customers with unproven and/or blatantly false statements about COVID-19 to entice customers to purchase cruises, thus endangering the lives of both their customers and crew members; and (2) as a result, the defendants’ statements regarding Norwegian’s business and operations were materially false and misleading and/or lacked a reasonable basis at all relevant times.
If you are a member of the class described above, you may no later than May 11, 2020 move the Court to serve as lead plaintiff of the class, if you so choose.
mptfan
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Re: Norwegian Cruise Lines up 42% today

Post by mptfan »

ironman wrote: Tue Mar 24, 2020 8:11 pmNorwegian is HQed in Miami so bailout money is more likely to be a factor than offshore cruise companies.
I'm not sure what you mean by "HQed," but Norwegian is an offshore cruise company, it is incorporated in Bermuda.

Here's where three of the largest cruise lines are incorporated:

Carnival Corporation is incorporated in Panama.
Norwegian Cruise Lines is incorporated in Bermuda.
Royal Caribbean is incorporated in Liberia.

Under the stimulus law, only businesses "created or organized in the United States" under American law and those with a majority of their employees in the US can qualify for emergency federal aid.

https://www.businessinsider.com/cruise- ... ump-2020-4

https://en.wikipedia.org/wiki/Norwegian_Cruise_Line
Last edited by mptfan on Wed Apr 22, 2020 7:57 am, edited 2 times in total.
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djpeteski
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Re: Norwegian Cruise Lines up 42% today

Post by djpeteski »

milktoast wrote: Tue Mar 24, 2020 7:31 pm Did the Bahamian government announce a bailout for their ships?
Nice! :beer
finite_difference
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Re: Norwegian Cruise Lines up 42% today

Post by finite_difference »

SRenaeP wrote: Wed Apr 22, 2020 7:39 am
ironman wrote: Tue Mar 24, 2020 8:11 pm It was up +60% when my limit order executed in my fun money account. Norwegian is HQed in Miami so bailout money is more likely to be a factor than offshore cruise companies. It was a fun distraction from the bloodshed in my 3 fund portfolio recently.
I purchased a few shares just for the heck of it and got an email from Vanguard yesterday about a class action suit.

Notice is hereby given that a class action lawsuit has been filed on behalf of those who purchased or otherwise acquired Norwegian Cruise Line Holdings Ltd. (“Norwegian”) (NYSE: NCLH) securities from February 20, 2020 through March 12, 2020, both dates inclusive (the “Class Period”).

According to the complaint, Norwegian is a global cruise company which operates the Norwegian Cruise Line, Oceania Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises brands. On August 1, 2017, Norwegian updated its Code of Ethical Business Conduct, which is posted on its website. The Code of Ethical Business Conduct, available throughout the Class Period, discussed health and safety standards, stating in relevant part that its environmental, health and safety “programs are designed to ensure the preservation of the environment, and safety and security of [Norwegian]’s guests, team members and vendors.” In December of 2019, a novel coronavirus strain, COVID-19, was detected in the city of Wuhan in Hubei province, China. Since then, the virus has spread to numerous countries. The spread of COVID-19 has had a significant impact on the cruise industry, with reports of canceled trips and half-empty ships.

The Class Period commences on February 20, 2020, when Norwegian filed a Form 8-K with the SEC. Attached to the Form 8-K was a press release reporting on Norwegian’s financial results for the quarter and full year ended December 31, 2019. In that press release, the defendants discussed positive outlooks for Norwegian in spite of the COVID-19.

On March 11, 2020, the Miami New Times reported in an article “Leaked Emails: Norwegian Pressures Sales Team to Mislead Potential Customers About Coronavirus” that leaked emails from a Norwegian employee showed that Norwegian directed its sales staff to lie to customers regarding COVID-19. Further, the Miami New Times article revealed the financial impact the COVID-19 outbreak was causing on Norwegian and its employees. Following this news, Norwegian’s share price fell $5.47 per share, or approximately 26.7%, to close at $15.03 per share on March 11, 2020.

The complaint alleges that, throughout the Class Period, the defendants made false and/or misleading statements and/or failed to disclose that: (1) Norwegian was employing sales tactics of providing customers with unproven and/or blatantly false statements about COVID-19 to entice customers to purchase cruises, thus endangering the lives of both their customers and crew members; and (2) as a result, the defendants’ statements regarding Norwegian’s business and operations were materially false and misleading and/or lacked a reasonable basis at all relevant times.
If you are a member of the class described above, you may no later than May 11, 2020 move the Court to serve as lead plaintiff of the class, if you so choose.
I predict the next lawsuit will be from the sovereignty that is Norway for tarnishing their name.
The most precious gift we can offer anyone is our attention. - Thich Nhat Hanh
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firebirdparts
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Re: Norwegian Cruise Lines up 42% today

Post by firebirdparts »

It's been a while since I've heard of a common stock investor class action suit.

Stockholders could get a coupon for $1 off your bar tab per share held. Law firm will get $80 million.
A fool and your money are soon partners
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ironman
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Re: Norwegian Cruise Lines up 42% today

Post by ironman »

mptfan wrote: Wed Apr 22, 2020 7:52 am
ironman wrote: Tue Mar 24, 2020 8:11 pmNorwegian is HQed in Miami so bailout money is more likely to be a factor than offshore cruise companies.
I'm not sure what you mean by "HQed," but Norwegian is an offshore cruise company, it is incorporated in Bermuda.

Here's where three of the largest cruise lines are incorporated:

Carnival Corporation is incorporated in Panama.
Norwegian Cruise Lines is incorporated in Bermuda.
Royal Caribbean is incorporated in Liberia.

Under the stimulus law, only businesses "created or organized in the United States" under American law and those with a majority of their employees in the US can qualify for emergency federal aid.

https://www.businessinsider.com/cruise- ... ump-2020-4

https://en.wikipedia.org/wiki/Norwegian_Cruise_Line
Agreed, head quarters in US, incorporated in Bermuda. The reports that they were disqualified for bailouts started around March 26th. The stimulus bill CARES was signed on March 27th. My post was on March 24th, got out just in time :D
valleyrock
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Re: Norwegian Cruise Lines up 42% today

Post by valleyrock »

It sounds like they should be sued for impersonating a Scandinavian.
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snackdog
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Re: Norwegian Cruise Lines up 42% today

Post by snackdog »

Those class action lawsuits can be great. I bought Petrobras after it crashed in the corruption scandal, knowing it would recover, which it did and tripled from what I paid. Then, I got two different checks for a couple thousand dollars from class action suits. Made no sense to me because I didn't own the stock before the scandals crushed the price...
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ironman
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Re: Norwegian Cruise Lines up 42% today

Post by ironman »

valleyrock wrote: Wed Apr 22, 2020 1:29 pm It sounds like they should be sued for impersonating a Scandinavian.
:happy The Wikipedia article linked above was edited on March 26th to indicate Norwegian was incorporated in Bermuda. That information was not widely publicized, though admittedly available through research, prior to the exclusion language in CARES. Maybe the Bermuda Government will find some money to help them out.
RunningRad
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Re: Norwegian Cruise Lines up 42% today

Post by RunningRad »

I cannot imagine ever investing in NCL anymore than I can imagine stepping foot on one of their ships.

Both statements were true on 1/1/20, and they will be true 10 years for now (if NCL exists). Feel free to substitute Carnival Cruises for NCL.
Few decisions in life motivated by greed ever have happy outcomes--Peter Bernstein, The 60/40 Solution
mptfan
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Re: Norwegian Cruise Lines up 42% today

Post by mptfan »

ironman wrote: Wed Apr 22, 2020 12:50 pm Agreed, head quarters in US, incorporated in Bermuda.
Right, therefore they are an offshore cruise company.
fatFIRE
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Re: Norwegian Cruise Lines up 42% today

Post by fatFIRE »

I thought cruise companies were not eligible for the sitmulus package? Those scummy companies decided to incorporate in the Bahamas for tax avoidance and other stuff, they can go beg the Bahama govt for money.

I for one think the cruise industry should die. Stepping on a cruise is literally asking to die.
mptfan
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Re: Norwegian Cruise Lines up 42% today

Post by mptfan »

fatFIRE wrote: Wed Apr 22, 2020 3:07 pm I thought cruise companies were not eligible for the sitmulus package? Those scummy companies decided to incorporate in the Bahamas for tax avoidance and other stuff, they can go beg the Bahama govt for money.
What cruise company is incorporated in the Bahamas? Here's where three of the largest cruise lines are incorporated:

Carnival Corporation is incorporated in Panama.
Norwegian Cruise Lines is incorporated in Bermuda.
Royal Caribbean is incorporated in Liberia.
fatFIRE
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Re: Norwegian Cruise Lines up 42% today

Post by fatFIRE »

mptfan wrote: Wed Apr 22, 2020 3:12 pm
fatFIRE wrote: Wed Apr 22, 2020 3:07 pm I thought cruise companies were not eligible for the sitmulus package? Those scummy companies decided to incorporate in the Bahamas for tax avoidance and other stuff, they can go beg the Bahama govt for money.
What cruise company is incorporated in the Bahamas? Here's where three of the largest cruise lines are incorporated:

Carnival Corporation is incorporated in Panama.
Norwegian Cruise Lines is incorporated in Bermuda.
Royal Caribbean is incorporated in Liberia.
Well... got the B right at least. LOL.
milktoast
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Re: Norwegian Cruise Lines up 42% today

Post by milktoast »

fatFIRE wrote: Wed Apr 22, 2020 5:29 pm Well... got the B right at least. LOL.
The company is incorporated in Bermuda but the boats are flagged in the Bahamas https://en.wikipedia.org/wiki/Norwegian_Cruise_Line
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