Watch stocks you care about
The single, easiest way to keep track of all the stocks that matter...
Your own personalized stock watchlist!
It's a 100% FREE Motley Fool service...
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Norwegian Cruise Line Holdings (NASDAQ: NCLH ) jumped as much as 34%, after its IPO this morning.
So what: Norwegian priced shares at $19, after initially planning to go public at $16 to $18 per share. The company will use the $447 million raised in the offering to pay down debt.
Now what: This kind of pop is not unexpected when a stock IPOs, so I wouldn't read too much into the movement. Only about 12% of the company's shares were sold in the offering, and it's likely that private equity owners Apollo Global and TPG will be looking to sell in the future -- so I wouldn't expect shares to skyrocket from here. Accordinng to Bloomberg, the enterprise value of Norwegian at the IPO price was about 12, in line with Carnival, so upside after today's pop may be limited.
Interested in more info on Norwegian Cruise Line Holdings? Add it to your watchlist by clicking here.