Why Carnival Stock Kept Dropping Monday
Last week, Carnival (NYSE: CCL) (NYSE: CUK) announced that it had a COVID-19 outbreak involving 27 people on one of its operating cruise ships. That announcement helped ding the stock by almost 5% on Friday. The drop continued today, even after the company put out updated safety protocols over the weekend. Carnival shares dropped another 4% early Monday, but the stock pared its decline and remained down slightly more than 2% as of 10:25 a.m. EDT.
In response to the outbreak -- which involved 26 vaccinated crew members and one vaccinated guest -- and the continued spread of the delta variant in many places globally, Carnival updated its safety protocols over the weekend. But unlike some of its competitors, Carnival said it "will continue to welcome unvaccinated guests, including children under 12 who are not eligible for a vaccine." That may not be an approach that investors think will ultimately benefit the cruise company.
Source Fool.com
