Cozumel, Mexico, Cruise Port Pier, docked

Cozumel, Mexico, Cruise Port Pier (Jeffrey Greenberg/Getty Images)

Cruise stocks take on water during big market sell-off

Major cruise lines are among the worst-performing stocks in the S&P 500 as the market sells off.

3/4/25 1:06PM

Cruise stocks have been some of the hardest hit in today’s sell-off, with shares of Carnival, Royal Caribbean, and Norwegian Cruise Line all slipping more than 6% in recent trading. The sharp drop comes as tariff concerns and economic uncertainty continue to rock the market, which could put pressure on discretionary spending like cruises.

Last month, cruise stocks tumbled after US Commerce Secretary Howard Lutnick suggested that cruise operators could soon be required to pay taxes.

Cruise lines have thrived after emerging from the pandemic, reporting record bookings and higher revenues per passenger as more Americans set sail. Royal Caribbean, Norwegian, and Carnival have all more than doubled their annual revenue over the past two years.

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Getty Images shares moon on licensing deal with Perplexity

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Getty was up as much as 85% in the premarket trading session, but those gains are quickly dropping as holders rush to dump the stock, which has been a truly disastrous long-term trade.

In fact, Getty has had a pretty bizarre ride since it returned to the public markets on July 25, 2022, as part of a SPAC deal — in a previous life it had been publicly traded before being taken private in 2008. Within days of its return, Getty became a minor meme stock, spiking more than 250% before crashing a couple months later.

Since then, the stock’s trajectory has been abysmal. Prior to the announcement of the Perplexity AI deal on Friday, it was down 80% from its trading debut. No wonder people are trying to get out fast.

At last glance, those 85% gains in the premarket have been swamped by sellers, shrinking today’s gain for Getty down to 17%.

Cruise stocks take on water during big market sell-off

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