If You Invested $1,000 In Norwegian Cruise Line Stock At Its Pandemic Low, Here’s How Much You’d Have Now

Investors who bought stocks during the COVID-19 market crash in 2020 have generally experienced some big gains in the past two years. But there is no question some big-name stocks performed better than others since the pandemic bottom.

Norwegian’s Big Run: One company that has been a great investment in the past two years has been cruise line giant Norwegian Cruise Line Holdings Ltd NCLH.

Unfortunately, after a solid decade of returns, a vibe check on the cruise business in March 2020 would have revealed an industry in total disarray. In fact, the global COVID-19 outbreak shut down all of Norwegian’s operations, and its share price understandably tanked.

At the start of 2020, Norwegian shares were trading at around $59. But by the beginning of March 2020, the stock had dropped below $38 after news of the virus spreading in China prompted concerns about a U.S. pandemic. On March 12 of that year, Norwegian shares plummeted from $15.03 to close at $9.65. Two days later, the company announced it would be suspending all cruises.

The stock fell below $8 for the first time on March 18, 2020, and ultimately bottomed at $7.03 in intraday trading.

Related Link: If You Invested $1,000 In Costco Stock One Year Ago, Here’s How Much You’d Have Now

Norwegian In 2022, Beyond: Since the 2020 market bottom, Norwegian shares have recovered back to $19.60, but they still haven’t made it back to their pre-pandemic highs.

Still, investors who bought Norwegian stock on the day it hit its pandemic low and held on have generated a sizable return on their investment. In fact, $1,000 in Norwegian stock purchased on March 18, 2020, would be worth about $2,561 today.

Looking ahead, analysts are expecting Norwegian’s stock to trend higher in the next 12 months. The average price target among the 13 analysts covering the stock is $25, suggesting 27.5% upside from current levels.

Source: Benzinga

Benzinga

Benzinga

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