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Carnival Corp Shares Plunge 3% Despite CEO’s Optimism

Carnival cruise ship
Simon Mugo

Shares of Carnival cruise lines (NYSE: CCL) today dipped 3% despite the CEO’s optimism about the resumption of US cruises possibly by end of 2020.

Speaking on a popular cruise news platform, Carnival Corp CEO, Arnold Donald said that there is still hope that some cruises will depart from US ports later this year.

He pointed to the cruises sailing from Italian ports as a sign that the cruise ships operator could achieve a similar milestone within the United States.

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“It’s definitely possible we could sail again in 2020 from the US,’” he said.

Adding: “If you go back just two or three months, who would have thought there would be any possibility of cruising in Italy? … Now Italy is cruising again. They’ve mitigated the spread. Society is starting to move about.”

Donald clarified that he is in touch with the leaders of most Caribbean nations, which are a major cruise ship destination, and could be the key to resuming US cruise ship departures.

Carnival is currently implementing the recommended social distancing and safety measures on its ships in order to protect its customers and get government approvals to resume cruises.

Carnival share price

Tradingview chart of Carnival share price 3082020

Carnival shares today fell 3.11% to trade at $16.69 having closed Friday’s session trading at $17.21 but was up 4% premarket to trade at $17.90.

Simon Mugo
Simon Mugo
Contributor

Simon ist Autor und Analyst für den Bereich Finanzwesen und blickt auf über sechs Jahre professionelle Erfahrung als Trader zurück. Er absolvierte einen Bachelor in Mathematik und Informatik und hat eine Leidenschaft für die Finanzmärkte. Simon handelt FX, Rohstoffe und Aktien. Er konzentriert sich auf Price Action Trading.