Following Commerce Secretary Howard Lutnick’s suggestion that the Trump administration would crack down on the taxes paid by the firms, cruise lines’ stock fell sharply on Thursday.
“Have you ever seen a cruise ship flying the American flag?” Lutnick stated during a Fox News appearance late on Wednesday.
None of them—all supertankers—pay taxes. No one pays taxes—all of the alcohol is imported. not paying taxes. “Under Donald Trump, this will end,” Lutnick stated.
Carnival’s stock declined 9%, Royal Caribbean’s 11 percent, Norwegian Cruise Line’s 10 percent, and Viking Holdings’ 7 percent decline.
Stifel Financial analysts described the cruise stock sell-off as a “massive overreaction” and advised investors to take advantage of the selling to purchase the companies “on weakness.”
Source (CNBC)
