Carnival share price: what’s the latest after cruise business suspends voyages?
The tour operator has seen its shares plummet due to the coronavirus, with the stock likely to fall further this week after its cruise business has suspended voyages for another month because of the pandemic.
Carnival Corporation shares have plummeted due to the coronavirus, with the company’s stock likely to fall further in April after it announced that its cruise business will suspend voyages for another month because of the pandemic.
On 16 March, the tour operator said that it would suspend trips for Cunard, Prince Cruises and other divisions, with the company telling investors on Monday that it will extend the suspension until 15 May, despite originally hoping to restart voyages on 11 April.
‘The impact of Covid-19 is affecting personal routines and businesses as well as placing significant travel restrictions around the world,’ Cunard President Simon Palethorpe said.
‘It is too soon to know exactly how this situation will evolve ... The Cunard team will commit all our resources, energy and talent to weather this storm and come out stronger than ever.’
Carnival shares down 75% amid Covid-19 pandemic
Carnival shares are down 75% year-to-date as a result of the Covid-19 pandemic, with the stock falling to a low of 620p a share on 18 March.
Since hitting that low, the stock has rose by 630p to £12.35 a share on 23 March, with the company’s share price buoyed by financial stimulus and other emergency measures by global governments aimed at limiting the economic impact of the virus.
However, the stock closed 20% lower on Friday to 981p a share, with those losses extended this week with Carnival falling 10% on Monday.
Carnival closed at 909p a share on Monday.
IGA, may distribute information/research produced by its respective foreign affiliates within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.
The information/research herein is prepared by IG Asia Pte Ltd (IGA) and its foreign affiliated companies (collectively known as the IG Group) and is intended for general circulation only. It does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
Please see important Research Disclaimer.
React to global volatility
Market volatility continues as coronavirus concerns amplify. Trade with IG and take advantage of:
- Tight spreads – from just 1 point on major indices, and 2.8 on US crude
- Guaranteed stops – they’re free to use, and only incur a fee when triggered
- Round-the-clock assistance – our highly skilled team are available when you need support
Live prices on most popular markets
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.