Could Royal Caribbean Stock Rise 80% Post Covid?
- Date: 27-Oct-2020
- Source: Forbes
- Sector:Financial Markets
- Country:Middle East
Could Royal Caribbean Stock Rise 80% Post Covid?
BRAZIL - 2020/06/29: In this photo illustration the Royal Caribbean Cruises Ltd (RCCL) logo seen ... [+] displayed on a smartphone. (Photo Illustration by Rafael Henrique/SOPA Images/LightRocket via Getty Images)
SOPA Images/LightRocket via Getty Images
There could be an upside of over 80% for Royal Caribbean Cruises (NYSE: RCL) stock if its business recovers strongly post the Covid-19 pandemic. The stock trades at about $65 currently and has lost about 50% of its value year-to-date, as Covid-19 essentially brought the company's business to a standstill. The stock traded at about $118 per share in February, as the markets peaked pre-Covid, and is about 45% below that level presently. That said, the stock has more than doubled from lows seen in March 2020, driven by