Investors should approach this rebound in travel with caution, Boris Schlossberg, managing director of FX strategy at BK Asset Management, said Monday on CNBC's"The trade that is most overbought and most ridiculously overvalued at this point is the cruise ship trade," Schlossberg said.
"Carnival, for example, is pricing rooms as low as $28 a night per passenger when their actual fixed costs are close to $100," he said. "The hope is that the passengers will then be able to make up revenue by [buying] on-board amenities.
at this point," he said. "By the time they open up the cruise ship offers, which will be August, if we're running at 2[,000]-3,000 Covid infections per day in Florida, I think you're going to see a much greater dampening of enthusiasm towards that trade. So, I am not at all a buyer of this rebound in travel."
"These stocks have become overbought, and I think the tactical idea is to probably find something that has lagged of late," Wald said in the same "Trading Nation" interview. "So, this is really just to say that it's getting late to buy the travel stocks."
TradingNation They need people to fill rooms and get over the fear. They need people to tell others of their trip to entice others to book and themselves another. Eventually it will come back. Norwegian needs to get rid of their mandatory tipping and extra crap they charge
TradingNation this is CLICKBAIT BE CAREFUO WHERE YOU GET THIS FROM
TradingNation CNBC DONT listen to your selves...
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