Abstract
Social and economic impacts of the cruise industry are undeniable within the United States (U.S.). Online media about cruising was quantified in terms of volume and net sentiment, then analyzed alongside stock market performance of cruise companies. Daily net sentiment was positively correlated with daily stock closing prices for the three major operators studied (NCLH, RCL, CCL). Further analysis reveals that online media net sentiment had a positive effect on daily closing prices; an increase of 1 point in the sentiment score led to a $0.07, $0.23, and $0.08 increase in the daily closing price of NCLH, RCL, and CCL, respectively. In addition, imposing a no sail order led to negative impacts with the greatest against RCL. Finally, a variable for the COVID effect on these firms revealed differing magnitudes of effect and directionality to each of the firms.
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