So to recap in my own words, there is not an actual change to anything since last October. The drop in cruise line stocks was due to a CDC person saying the order that‘s been in place since October will continue until November. The cruise industry is saying that the hoops they would need to jump through are impractical and so effectively by keeping the order in place they can’t conduct business or at least not the way they want to. The industry was hoping that restrictions would be more relaxed by the Summer based on Biden’s talk of a return to some normal activities by July 4th and they started taking bookings for Summer cruises based on that “hope”.
Pretty much. I think a lot of the cruise lines were optimistic that they would be fully operational by late summer. The kink the CDC just threw in requires them to continue to adhere to limited capacity and various restrictions for another 7 months. Limited capacity = limited revenue. Probably what impacted the respective stocks.