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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 Royal Caribbean (NYSE:RCL) was particularly badly impacted, with its stock down by about 26% in Monday's trading and by a total of 58% since early February, after the WHO declared a global health emergency as the viral outbreak is making customers uneasy about cruises in general, impacting demand.While Royal Caribbean stock has fared worse than the broader markets through the current crisis, it's possible that it could bounce back strongly and potentially outperform as the crisis winds down. 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
Royal Caribbean Cruises Performance During 2020 Coronavirus/Oil Price War Crisis
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.In comparison, rival Carnival stock declined by about 20% on Monday, March 9th and the stock is down by about 50% since February 1. View our analysis for Carnival stock:
2007-08 vs. 2020 Crisis Comparison: How Did Carnival Corporation Stock Fare Compared with S&P 500?
RCL Stock: Key Values During 2020 Crisis
% Change for Key Dates: 2020 Crisis
S&P 500 Index Performance During 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 2007-08 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)
Royal Caribbean Cruises Stock Performance Over 2007-08 Financial Crisis
RCL stock declined from levels of around $33 in October 2007 (the pre-crisis peak) to levels of around $5 in March 2009 and recovered to levels of about $21 in early 2010.Through the crisis, RCL stock declined by as much as 85% between the market's approximate pre-crisis peak and when the markets bottomed out. This was worse than the broader S&P which fell by as much as 51%.However, the stock did bounce back strongly, rising by over 320% between March 2009 and January 2010. In comparison, the S&P 500 rose by about 48%.
RCL Stock: Key Values During 2007-08 Crisis
% Change for Key Dates: 2007-08 Crisis
RCL 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 Royal Caribbean Cruises Stock Fare Compared with S&P 500?
Coronavirus Knocked -18% From Royal Caribbean Cruises Stock, Time To Buy?
Royal Caribbean Cruises - RCL
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