Thread: CCL Shares fell 20% Yesterday - Concordia Effect

US Markets were closed yesterday for the MLK holiday, but they were open in the UK, and CCL shares fell in the aftermath of the sinking of the Costa Concordia:

From a story from Fox:

U.K.-listed shares of (CCL: 34.28, -0.86, -2.45%) plunged almost 20% Monday morning as the markets fret about the financial impact of the Costa Concordia cruise-ship disaster off the coast of Italy over the weekend.

Analysts warned the disaster, which has caused at least six deaths, could hurt bookings, lead to a flurry of lawsuits and reduce the company's ship capacity

MORE HERE: Carnival Shares Drop 20% After Costa Disaster | Fox Business

The article also mentions a downgrade of Carnival Stock by Morgan Stanley

Yep! CCL has taken quite a hit! A few minutes ago it was at 31.02 (up a about dollar from yesterday ... 30.07). 52 week high and low: 47.71 - 28.52.

Most analysts are still bullish ... but the Hulbert Interactive has turned bearish.
The current 3.22% dividend yield is attractive.

Has this incident affect other cruise realted share prices ?

Has it affected cruise fares ?

For those of you who follow cruise line stocks. ( I like to follow but don't buy things that Float or Fly. )

RCL (Royal Caribbean Cruises ... RCCL & Celebrity) is also down ... probably the Costa thing.

RCL closed today at 28.69. The 52 wk high and lows ... 48.27 and 18.79. The dividend at the current price is 1.31%.

Most analysts are very bullish on RCL. The Hulbert Interactive is netural.

Originally Posted by tonylinsdell

Has this incident affect other cruise-related share prices ?

Has it affected cruise fares ?

Good questions. I read people who saw The Titanic movie think the two disasters are very similar (although that is debatable), so maybe we should look at the fallout from that one. My guess is in the near future we will see a lot of would-be Carnival cruisers get their money back, but other cruise lines will suffer a small drop in their passenger counts.