Why Royal Caribbean's Stock Is Trading Lower Today

Royal Caribbean Group RCL shares are trading lower after the company announced a $500 million common stock offering.

The company expects to use the net proceeds from the offering for general corporate purposes.

Royal Caribbean Group operates as a cruise company. The company operates cruises under the Royal Caribbean International, Celebrity Cruises, Azamara Club Cruises, and Silversea Cruises brands.

Royal Caribbean's stock was trading down 6.72% at $65.15 per share on Tuesday at the time of publication. The company has a 52-week high of $135.32 and a 52-week low of $19.25.