All that said, I do get why investors are starting to turn pessimistic about cruise stocks again. As recently as January, Wall Street analysts were telling us that both Norwegian and Royal Caribbean stocks would be profitable again as early as Q2 of this year -- but that's clearly not going to happen. The latest forecasts from S&P Global Market Intelligence show all three major cruise lines losing money until at least Q3 2022 and Q4 being rather hit or miss.