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SUMMARY
On Monday, the U.S. markets saw their biggest sell off since the 2008 crisis falling by over 7%. There were 2 distinct factors behind the sharp decline: a continued increase in the number of novel Coronavirus cases outside China, and a collapse in crude oil prices with Saudi Arabia boosting production.Cruise line company Carnival (NYSE:CCL) has been particularly badly impacted, with its stock down by about 20% in Monday's trading and by a total of 50% since early February, after the WHO declared a global health emergency.While the viral outbreak is making customers uneasy about cruises in general, impacting demand, the quarantine of Carnival's subsidiary Princess cruises’ “Diamond Princess” ship in Japan, which is linked to close to 700 Coronavirus cases is also hurting the company's image.In this analysis, we compare the performance of the company’s stock over the current crisis with the economic crisis of 2008 and also compare its performance with the S&P 500.
Coronavirus/Oil Price War Crisis
Carnival Stock Performance Over 2020 Coronavirus/Oil Price War Crisis
Carnival stock declined by about 20% on Monday, March 9th and the stock is down by about 50% since February 1, after the WHO declared a global health emergency.In comparison, Royal Caribbean stock declined by about 26% on Monday, March 9th and the stock is down by about 58% since February 1, after the WHO declared a global health emergency.View our interactive dashboard analysis on 2007-08 vs. 2020 Crisis Comparison: How Did Royal Caribbean Cruises Stock Fare Compared with S&P 500?
CCL Stock: Key Values During 2020 Crisis
% Change for Key Dates: 2020 Crisis
S&P 500 Index Performance 2020 Coronavirus/Oil Price War Crisis
The S&P 500 declined by 7.6% on 3/9/2020 and has fallen by 17.5% since February 1, after the global health emergency was declared by the WHO.
S&P 500 Index: Key Values During 2020 Crisis
% Change for Key Dates: 2020 Crisis
2007-08 Financial Crisis
Timeline of the 2007-2008 Crisis
10/1/2007: Approximate pre-crisis peak in S&P 500 index9/1/2008 - 10/1/2008: Accelerated market decline corresponding to Lehman bankruptcy filing (9/15/08)3/1/2009 - Approximate bottoming out of S&P 500 index1/1/2010 - Initial recovery to levels before accelerated decline (around 9/1/2008)
CCL Stock Performance Over 2007-08 Financial Crisis
CCL stock declined from levels of around $34 in October 2007 to levels of around $14 in March 2009 and recovered to levels of about $23 in early 2010.Through the crisis, CCL stock declined by as much as 58%
between the market's approximate pre-crisis peak and when the markets bottomed out. This was slightly worse than the broader S&P which fell by as much as 51%.However, the stock did bounce back strongly, rising by over 62% between March 2009 and January 2010. In comparison, the S&P 500 rose by about 48%.
CCL Stock: Key Values During 2007-08 Crisis
% Change for Key Dates: 2007-08 Crisis
CCL Stock: Cumulative % Change from 10/1/2007
S&P 500 Performance Over The 2007-08 Financial Crisis
The S&P declined from levels of around 1540 in October 2007 to levels of around 760 in March 2009 and recovered to levels of 1120 by January 2010. Through the crisis, the S&P declined by as much as 51% from its approximate pre-crisis peak.
S&P 500 Index: Key Values During 2007-08 Crisis
% Change for Key Dates: 2007-08 Crisis
S&P 500 Index: Cumulative % Change from 10/1/2007
Related Analyses
2007-08 vs. 2020 Crisis Comparison: How Did Carnival Corporation Stock Fare Compared with S&P 500?
2007-08 vs. 2020 Crisis Comparison: How Did Carnival Corporation Stock Fare Compared with S&P 500?
Coronavirus Knocked -13.3% From Carnival Corporation Stock, Time To Buy?
Carnival Corporation - CCL
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