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Royal Caribbean sails to new high as travel continues to rebound

Investing.com -- Royal Caribbean Cruises Ltd (NYSE:RCL) stock is hitting fresh highs as tourism continues to rebound and travelers stretch for new experiences.

Shares were up 0.9% on Wednesday to a new 52-week high and are up 96% so far this year.

The cruise operator just unveiled a new line, called Utopia of the Seas, which will start sailing three- and four-night trips in July 2024. The line will leave from Florida’s Port Canaveral.

Utopia sails to Royal Caribbean's Perfect Day at CocoCay, a private island in the Bahamas that offers beach and pool facilities, multiple dining options, a water park and other amenities. Among the new features for Utopia, Royal Caribbean is unveiling two new Solarium Suites, adult-only areas with their own pool and whirlpools, bar, daybeds, panoramic views of the ocean, and the Solarium Bistro.

The cruise line will open bookings for the giant new vessel on June 23.

Argus recently upgraded Royal Caribbean stock to Buy from Hold with an $88 price target. 

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70.8% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.