The shares of a number cruise companies have been trading lower as the U.S. considers ways to discourage travelers from taking cruises as part of the Trump administration's effort to limit the spread of coronavirus, according to Reuters.
The spread of COVID-19 continues to negatively impact travel stocks.
Royal Caribbean Cruises (NYSE: RCL) said it has adopted a policy that allows cruise trip cancellations up to 48 hours before sailing due to the virus.
"Our previous policy set earlier deadlines for guests to cancel their cruises, and that added unnecessary stress," CEO Richard Fain said in a statement.
Trying to guess a month or more in advance where areas of concern about coronavirus might be is challenging for medical experts, much less a family preparing for vacation, he said.
"When circumstances are as fast-changing as they have been recently, it's good to know you have the option to take a rain check."
Cruise Line Price Action
Carnival Cruise (NYSE: CCL) Carnival shares were down 16.08% at $22.78 at the time of publication. The stock has a 52-week high of $57.69 and a 52-week low of $26.10.
Royal Caribbean Cruises shares were down 25.6% at $48.37 at the time of publication. The stock has a 52-week high of $135.32 and a 52-week low of $60.36.
Norwegian Cruise Line (NASDAQ: NCLH) shares were down 19.1% at $21.85 at the time of publication. The stock has a 52-week high of $59.78 and a 52-week low of $26.78.