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for months i i've been asked when will it be safe finally to own these cruise stocks again people love these and for for months i've told you to hold your horses i think the cruise lines can eventually recover they're well run they've raised a lot of money their bookings for next year look pretty darn good assuming they're allowed to operate but i've been adamant that speculating in these stocks could be premature it doesn't matter if they're great carnivore or royal caribbean or norwegian might be i mean the truth is that right now they're not allowed to set sail because of the pandemic hey call me crazy but i'm reluctant to recommend anything that's legally barred from doing its business why would you want to own stock in a company that can't operate until they can safely set sail there's just not much they can do on the other hand there's always something that can go wrong i mean look at what happened today after a big run over the last few weeks driven by just voracious young people buying royal caribbean took advantage of the appetite for its stock and announced the 500 million dollar secondary offering coupled the 500 million dollar private offering of senior convertible notes in response the stock just got eviscerated it ended up plummeting nine percent nine dollars or thirteen percent and the negative pin action crush the entire group i say what did you expect the cruise lines need money if you bid their stocks up as many younger less informed investors keep on doing they're bound to issue new equity they're going to stuff that they can't afford to pass up that opportunity which in a more discerning market would never even be giving them a chance to do so however now that the group is sold off i think it's actually worth revisiting the cruise lines i'm not ready to recommend them but despite the fits and starts we had lately with these uh the trials astrazeneca then j and j we are getting closer and closer step-by-step inch by ends to a coveted vaccine and we've already got a lot more testing so i want to explain what happens or at least what needs to happen before these stocks will be worth buying first though let's go over the basics like when can they sell again the centers for disease control slapped the no sale order in the industry in march because too many cruise ships had turned into coveted incubators that no sale order was set to expire in late september but then cdc reportedly wanted to send it through to february of next year because the pandemic's still going strong we're currently being swapped by the third wave of infections now but the pitiful helpless cdc was overruled by the all-powerful white house so the current no sail water expires on october 31st less than three weeks away early last week though norwegian and royal caribbean both announced they were cancelling the cruises through the end of november instead carnival had already canceled nearly all of its u.s cruises through the end of the year except for the ones sailing out of southern florida they wanted to get these going again in november but just yesterday carnival canceled its november cruises none of these companies wants to reopen because before it's safe because a shipboard outbreak would be very bad for business plus you know killing your own customers frowned upon in the hospitality industry kidneys so at the at the very earliest domestic cruises won't be back until december i know the president wants him now i mean i know he's like i'm sure he would do you think he takes what is he when he goes does he go on carnival does he do which which does he goes i'm asking my executive regime does the president does he use carnival or does he go on royal caribbean or he's a norwegian crew president's norwegian cruise i just learned that okay um and he you know they're they're ready in december if we're still in the middle of a bad outbreak i'd expect them to postpone again regardless of what the government says or if they want to ride with the royal caribbean the rest of the world is a uh it is a very different story though see cruz has actually resumed as early as july in some european countries that did a really good job of containing the virus did you know they're going so far it's been been terrific thanks to rigorous health and safety regulations they can do it there how do they ensure these ships are safe well they do constant testing constant cleaning new air filters mandatory social discipline and protocols to quarantine anyone who says come back positive rural caribbean norwegians heaped up on a healthy sale panel they brought in a bunch of experts to figure out the safest way to do this carnival's off on its own but they're doing similar stuff remember i told you these are incredibly well-run companies with great ceos with that in mind how are the individual cruise lines holding up now that royals kind of wrecked the uh mojo well let's start with royal given that they just raised a billion while they're raising that billions of dollars worth of fundraising billion dollars even before today they'd already borrowed 8.4 billion since the pandemic shut down the industry based on today's sec filings we know the companies burning through 250 million to 290 million per month during the prolonged suspension of operations and that's after some major cost cuts so today they bought themselves four more months on the plus side royal caribbean's bookings for next year looked pretty good and only about half of the people on canceled cruises are requesting refunds the rest reschedule you get by the way you can get some incredible bargains i don't know if you looked at it the person who runs my life dylan reback he's he's checking him out constantly well lisa lisa and then don't rebound don't they'll rebound reebok like just so we know it's my executive producer she's the one who told us she filled us in that the president takes where reasonable region cruise and then then uh and then dylan reebok who runs my life tells me that the the prices the prices from next year are so great that you actually want to book them in case they get a vaccine i'm not kidding i looked at him and i said i want to go on the haven part of norwegian cruise i don't know if dylan reebok has booked me on that yet but that's where trump that's where trump goes now i'm not sure that trump's actually won these just he has been cited but it might not have been him how about carnival all right the the company reported last week and they told us that they're burning oh roughly 770 million of cash per month easy come easy go but management's been aggressive about raising cash so far they borrowed about 12 billion along with issuing more than 1.2 billion worth of stock plus they're in the process of selling 18 ships carnival actually ended the third quarter with 1.3 billion more than they had at the end of the second quarter see i told you these guys are really good they should have gone out of business i don't even know how they stayed in business as for carnival's booking for 2021 they've already booked half the rooms available for sale again the prices are incredible which is at the high end of their historical range pricing is only down by mid-single digits versus 2019 about 55 percent of their customers on cancel cruises are asking for refunds finally there is norwegian cruise line holdings when these guys reported in august we learned that they were burning roughly 160 million per month since covet hit norwegians raised roughly 6.8 billion via mix of stock and bond offerings mostly bonds at the end of june they had 2.3 billion in cash and equivalents norwegian was very last very honest on the latest conference call they said they don't expect their fleet to return in earnest until the second quarter of next year remember he said it's frank del rio he's fantastic according to management bookings for 2021 are very much within historical ranges that's that haven i want to go on now if you put a gun in my head about this and told me to choose among the three cruise lines the first thing i do is please i beg you to take away the gun i mean what did you take the gun to my head for anyway it's too soon to buy them and those of you young people who come in i was i was looking at the tape this morning at 3 30 and they were in there doing this again they're in there buying before they even got gobsmacked by the royal caribbean deal but if you insist on speculating on the cruise stocks carnival has the best exposure to the rest of the world that's already sailing again royal caribbean's slowly coming back to life too norwegian has the least going overseas based on what we've heard so far i think royal caribbean is seeing the best uh bookings for 2021 followed by carnival and royal caribbean's tied with the regional pricing put it all together and i think royal caribbean's the best of the bunch especially because you know today's capital race that was brilliant norwegian closed second they've had a ruthless burst of cutting costs i like the precise approach to reopening although they've also got the longest uh longest without a capital raise but they've got so much money you might see one of them uh they could they could hammer the stock though if the people these younger people keep buying the stocks without even knowing what the hell they're doing as for carnival they're burning way too much cash for me to feel comfortable but look the bottom line is that it's still too soon to speculate in the cruise stocks their domestic ships won't start sailing again until december at the earliest and i think there's a good chance that gets postponed again if you really want cruise exposure i say be patient because days like today make me think you'll get better buying opportunities and remember young investors the cruise lines aren't like a lot of other stocks you play with they need money and they're happy to take euros in the form of buying tickets or buying shares and just you know uh dylan and i we're thinking this haven line to alaska to watch the calving and if you've never seen calving you've never seen jack it's icebergs no they call them kevin i know all right matt can we cut this in post pasting whatever we do matt in florida matt jim the stock that i've been sitting on is glaxosmithkline i've had it for about a year obviously they have a juicy dividend but unfortunately the stocks barely done anything so i'm wondering is it worth sticking in with gfk or cutting bait for abby you cut bait for abby and you do that tomorrow morning abby's got a better dividend soon they're going to be able to open hospitals and doctor's offices and people are going to go get botox and the skin's going to look better self-fulfilling philosophy really that's done all right anyway a little joking around because we love talking about these stocks but younger people you see what happens when you get too aggressive the ma the management see you they know you don't know what you're doing so they just they just hit you over the head with it two by four so get a little better norwegian you can join me and uh dylan when we go and take the haven line to calving but we also are very interested in what they have in the caribbean and then carnival we're holding off on and uh the president is very very inclined to let these guys uh go whenever they want so i think what he ought to do is take the inaugural trip with me on end dillon on the haven line going to alaska which means we're staying in america and we're doing it the american way all right welcome award there's much more mad money ahead including my exclusive with a company up over 350 year-to-date that you first brought to my attention don't miss my sit down with celsius then we're going to be covered just maybe not in the way we originally thought i'm going to explain and all your calls rapid fire tonight's edition of the lightning round so stick with our quick stick with the people who know how to cruise and stick with crap g
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