What Is The Stock Price Of Ccl

Today, the bloodbath in financial markets continues. All major indices are one time once again bleeding red, with a wide swath of stocks seeing heavy selling today. One stock that is particularly struggling on Monday is Carnival(NYSE: CCL ). Currently, CCL stock is downwardly more than viii%.

Source: Ruth Peterkin / Shutterstock.com

Much of this move appears related to the increasingly bearish market environment. As interest rates keep to ascent, investors are repricing risk avails in a large way. For avails beyond the board, this has provided a significant headwind.

For college-growth stocks, this is peculiarly true.

Carnival, similar its cruise line peers, has been a pandemic reopening play. Despite seeing strong bookings, this visitor is all the same not turning a profit for investors. Accordingly, given the corporeality of debt the company was forced to issue, investors are looking by Funfair to companies with stronger balance sheets.

However, beyond the macroeconomic environment, there is likewise a company-specific catalyst weighing downward CCL stock today. Permit's dive into what investors are watching right now.

CCL Stock Plunges on Covid-19 News

The Centers for Disease Control and Prevention (CDC) is investigating a Covid-nineteen outbreak on the company's Carnival Spirit. This send initially departed from Miami on April 17, docking in Seattle on May 3. Nevertheless, on this voyage, a large number of guests tested positive for Covid-xix, leading to its status being moved from "green" to "orangish," as per the CDC'due south predetermined thresholds.

While the full number of passengers that tested positive remains unknown, what this means for sure is that more than than 0.3% of the guests on this boat were positive. According to Carnival, this ship can concur more than two,100 guests.

An outbreak is an outbreak, and investors reading the headlines may be concerned with the impact on need such headlines bring. However,CNNreports that there are more than 60 ships in operation that are currently under "orange" status. This includes other ships from Carnival likewise as peers Royal Caribbean (NYSE: RCL ) and Norwegian (NYSE: NCLH ).

Most of the U.S. economy has fully reopened from the pandemic, with select restrictions in sure cities. However, the cruise business is one that's however tethered to the pandemic. What that means is that while this ane investigation may not be responsible for panic, Covid-xix withal plays a real role in influencing CCL stock.

On the engagement of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Chris MacDonald's love for investing led him to pursue an MBA in Finance and accept on a number of management roles in corporate finance and venture capital over the past 15 years. His experience every bit a fiscal analyst in the past, coupled with his fervor for finding undervalued growth opportunities, contribute to his conservative, long-term investing perspective.

What Is The Stock Price Of Ccl,

Source: https://investorplace.com/2022/05/ccl-stock-drops-as-the-cdc-investigates-a-covid-19-outbreak-on-a-carnival-cruise/

Posted by: colemanonstonly.blogspot.com

Share this post