- NASDAQ surged after announcing it would buy the software firm Verafin for $2.75 billion.
- Coronavirus-related fears overshadow vaccine hopes, stocks trading with a heavy tone.
- Norwegian Cruise Line Holdings(NCLH) is up a modest 1.22% at the time of writing.
Norwegian Cruise Line Holdings (NASDAQ:NCLH) fell 7.25% on Wednesday, to close the day at 20.46. The slump came after the cruise operator announced plans to sell 40 million new ordinary shares at $20.80 each. Capital raises are no news to Norwegian Cruise Line Holdings (NCLH), in the current coronavirus pandemic context, as the company has been out of business since March.
While reporting they would use the money for “general corporate purposes,” the truth behind the latest auction is more related to maintaining the structure of the company and preventing an economic collapse. NCLH is estimated to have lost roughly $150 million in the third quarter of the year.
So far this month, NCLH shares have gained roughly 34%, supported by COVID-19 vaccine optimism. Nevertheless, the share is down 62% YTD a sign of how steep the pandemic-related setback has been.
The NASDAQ outperforms its peers today, as is the only US index trading in the green. The market’s mood has been hit these days by record coronavirus cases in the US, as the country surpassed the 250,000 deaths, which overshadow vaccine hopes. The index surged after the exchange operator announced this Thursday it would buy the anti-financial crime software firm Verafin for $2.75 billion in cash.
NCLH stock forecast
Norwegian Cruise Line Holdings (NASDAQ:NCLH) trades 1.22% higher at the time being, at $20.71, slightly below the auction price, after peaking intraday at $21.15. Given the dismal market mood, the share could continue easing, with further declines expected once it pierces the daily low at $20.49. NCLH stock forecast points to another slide coming in the foreseeable future.