Norwegian Cruise Line (NCLH - Get Report) CEO Frank Del Rio is really surprised his stock is down 11% this year and trades at only 15 times forward earnings. 

To him, Wall Street -- concerned about growing supply growth in the cruise line industry -- is being irrational. Del Rio tells TheStreet his ships are packed out for this year at higher prices. Further, 2019 bookings are off to a strong start. 

Shares of the company popped 5% on Thursday following better than expected second quarter earnings.