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.’
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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.
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