Investors in Carnival (NYSE:CCL) stock likely aren’t doing well Monday as the price falls and we’re diving into the why!
Let’s get into the news hampering CCL stock today below!
- The Covid-19 Omicron variant is to blame for shares of CCL stock taking a beating today.
- In fact, the variant is also hitting other travel stocks, such as United Airlines (NASDAQ:UAL).
- Rival cruise companies, including Royal Caribbean Cruises (NYSE:RCL), and Norwegian Cruise Line (NYSE:NCLH) are also sinking lower today.
- The big issue for these stocks today is news of Omicron spreading at an increasing rate.
- For example, the U.K notes it saw cases of the coronavirus variant almost double to 1,239 from Saturday to Sunday.
- To go along with that, British Prime Minister Boris Johnson also confirmed the death of one person infected with the virus.
- That’s despite the variant not being as deadly as prior ones.
- However, we also don’t know the age, health, or vaccination status of the deceased individual.
- No matter the case, news of the spread has investors fearing another travel lockdown.
- That would be a major blow to travel stocks, such as CCL, RCL, and NCLH.
- These shares have yet to recover from the initial blows of the pandemic in 2020 and it looks like traders might have to wait even longer for that now.
CCL stock is down 5.4% as of Monday afternoon and is down 10.5% since the start of the year.
Investors looking for more of the latest stock market news will want to keep reading.
InvestorPlace has that taken care of with our daily coverage of the market. A few examples include what to know about Rivian Automative (NASDAQ:RIVN), meme stocks, and GoPro (NASDAQ:GPRO) today. You can get all that data by checking out the following links!
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On the date of publication, William White 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.