What happened Royal Caribbean (NYSE: RCL) shareholders trailed a declining market in October as the stock dropped 13% compared to the S&P 500's 2.8% drop, according to data provided by S&P Global Market Intelligence. That rally only erased a portion of the cruise ship giant's broader losses, though, and the stock is down by more than 50% in 2020. Image source: Getty Images. So what Royal Caribbean's business continued to sit in limbo last month, with almost its entire fleet unable to sail due to COVID-19 restrictions. That situation, which has stretched on since mid-March, is taking a major toll on its finances. Third-quarter losses landed at $1.3 billion, management revealed on Oct. 29, and Royal Caribbean is burning through $250 million to $290 million each month. Now what It isn't yet clear when Royal Caribbean and its peers will be cleared to resume sailings, and that restart will likely scale up over many months. That's why management has remained active on the capital front, including by issuing new debt and additional stock in October. These cash raises will allow Royal Caribbean to endure many more months of limited services. But they'll pressure earnings for long after the COVID-19 threat passes. 10 stocks we like better than Royal CaribbeanWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Royal Caribbean wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of October 20, 2020 Demitri Kalogeropoulos has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source