Six days ago, cruise stocks were sinking. On April 2, shares of Carnival (NYSE:CCL) and Norwegian Cruise Line (NYSE:NCLH) stock fell roughly 4% on fuel cost fears as WTI crude oil surged from around $80 per barrel in early March to above $113 per barrel by late March, squeezing the outlook for two of the most fuel-intensive businesses in travel.

Record bookings have bolstered Norwegian in recent quarters. Norwegian's debt levels continue to grow.

A Comprehensive Transformation of the Much-Loved Ship, Scheduled for October 2026, Reinforces the Brand's Continued Commitment to Elevated, Intentional Luxury Travel MIAMI, April 7, 2026 /PRNewswire/ -- Oceania Cruises®, the world's leading culinary- and destination-focused luxury cruise line, today announced plans for a comprehensive reinspiration of its acclaimed ship, Oceania Marina™. Scheduled to enter dry dock in October 2026, Oceania Marina will undergo an extensive transformation.

Norwegian missed Q4 revenue estimates and its guidance underwhelmed. Elliott Management successfully pushed for board changes.

In the latest trading session, Norwegian Cruise Line (NCLH) closed at $18.93, marking a -2.32% move from the previous day.

Carnival Corporation (NYSE:CCL) stock retreated 4% in Thursday's session, trading below $26 after opening at $26.58.

Stock futures are sinking ahead of the open, after Trump's address suggested an end to the war was not as near as hoped

Norwegian just refreshed its board, which was a key demand from activist investor Elliott Management. The CEO has a large compensation package, which is tied to the stock's performance over the next four years.

Norwegian Cruise Line (NCLH) reported earnings 30 days ago. What's next for the stock?

Norwegian Cruise Line is cheap and out of favor. But it can bounce back in the next nine months.