Phases of COVID-19 crisis:
Early- to mid-March 2020:
Fear of the coronavirus outbreak spreading rapidly translates into
reality, with the number of cases accelerating globallyLate-March 2020 onward:
Social distancing measures + lockdownsApril 2020:
Fed stimulus suppresses near-term survival anxietyMay-June 2020:
Recovery of demand, with gradual lifting of lockdowns - no panic anymore despite a steady increase in the number of casesJuly-October 2020:
Poor Q2 results and lukewarm Q3 expectations, but continued
improvement in demand, a decline in the number of new cases, and progress with vaccine development buoy market sentiment
Over the coming weeks, we expect continued improvement in demand and subdued growth in the number of new Covid-19 cases in the U.S. to buoy market expectations. As investors focus their attention on expected 2021 results, we believe Carnival stock has the potential for strong gains once fears surrounding the Covid outbreak are put to rest