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Carnival Stock Price Dropping

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1 minute ago, chipmaster said:

 

Test positive, and likely across the country more cases, and more schools closing and more companies WFH, etc. etc. etc. 

 

Actually even more amazing the stock market stayed up January and had the dead cat bounces it did.

 

I think the dead cat bounce was almost a given and I think it gives more credence to the possibility that there is much more carnage ahead.

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17 hours ago, caribill said:

 

No obvious minimum number of shares requirement. Stock must be registered in your name, so you must own it directly, not part of a brokerage account. Reservations must be paid in full when made and are non-refundable if cancelled or dates changed.

What do you mean by a brokerage account? We have (had) our CCL and RCL shares in the DWs IRA-SEP Account over which we have direct control of how the assets are allocated. As we can buy/sell stocks/EFTs/Mutuals, I consider that a brokerage account. 

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7 hours ago, ed01106 said:

I wonder to what extent CCL and the other lines verify the applications for OBC to make sure ownership is still current.  Wouldn’t be that hard the corporation has a record of all owners.

Ownership does not have to be current. As I remember the disclaimer in the StockHolders benefit before 2011 states that you have to own the stock within a 6 month period prior to the cruise. But that text is no longer in the any of the copies I have from 2011 onward. 

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8 hours ago, CarelessAndConfused said:


I would NOT pay any attention to analyst stock price projections.  The market is perennially littered with “target prices” for hundreds and thousands of stocks that are well above current levels that mean nothing.  Often times you have the same firm but different person calling it a sell.  Then there’s the whole trading positive analyst coverage in exchange for investment banking business, which is technically illegal but goes on all the time anyway.

I am very skeptical. It was just a nice way to voice my skepticism without calling out the poster. Hence, why I asked what his source was.

 

There is no way to get an accurate valuation of any cruise company during this crisis. We are on the cusp of an epidemic here in the US. I am sure that will get reflected in the stock prices sooner or later.

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21 cases of covid 19 on grand princess. Stocks are going to fall again come monday.

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We are booked in the Regal leaving March 22nd. They were delayed today and are currently cleared to disembark and waiting for some paperwork. In the meantime, they had to cancel the cruise that was leaving today, but the good news is no one is sick. Hopefully they will be able to sail on the 15th. We received a $200 OBC not to cancel our cruise.

 

The only bright side of this crappy market is that oil is so low that hopefully that will help Carnival's bottom line.

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On 3/6/2020 at 6:47 PM, CarelessAndConfused said:

 

Meaning instead of the shares being held by your brokerage account, you actually have a fancy looking stock certificate that shows your 100 shares (or how many ever) of ownership in the the IHG.  Something like this:

 

https://www.ebay.com/itm/Carnival-Corporation-Stock-Certificate/183965342813?hash=item2ad5305c5d:g:uTAAAOSwtw9b9HOw

 

It's like owning a bearer bond except the stock certificate should be registered in your specific name.  It's a very inefficient way of owning stocks and actual physical stock certificate ownership in public companies are virtually non-existent today and have been for many decades.

Not true!  We've had Carnival stock with several brokerages and used our Proxy Vote statement as proof of ownership.  Very easy!

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CCL price?  RCL price?  

 

My opinion:  "the shoe has yet to drop" and hit the floor.  

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1 minute ago, rkacruiser said:

CCL price?  RCL price?  

 

My opinion:  "the shoe has yet to drop" and hit the floor.  

 

Tomorrow will be a bloodbath; would not surprise me if they put a trading hold on the stock.

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6 minutes ago, bluesea321 said:

 

Tomorrow will be a bloodbath; would not surprise me if they put a trading hold on the stock.

 

Futures are already showing a 900 point drop for tomorrow morning.....yikes!!!

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23 minutes ago, Plant said:

Not true!  We've had Carnival stock with several brokerages and used our Proxy Vote statement as proof of ownership.  Very easy!

You don't even need a proxy vote statement. Our shares are part of a trust at a brokerage firm and we just went on line and printed a very simple statement within days of buying it. It's not as beautiful as the printed example, but I'm not sure they give things out like that anymore.

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1 minute ago, travelhound said:

You don't even need a proxy vote statement. Our shares are part of a trust at a brokerage firm and we just went on line and printed a very simple statement within days of buying it. It's not as beautiful as the printed example, but I'm not sure they give things out like that anymore.

Yes, you can use any proof.  We just find it easy to use the Proxy Vote. You don't have to black out any other info.

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We didn't do that because we bought the stock on a Friday and applied for the OBC on Monday, so no time to get it. The purchase statement was easy though.

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47 minutes ago, travelhound said:

We are booked in the Regal leaving March 22nd. They were delayed today and are currently cleared to disembark and waiting for some paperwork. In the meantime, they had to cancel the cruise that was leaving today, but the good news is no one is sick. Hopefully they will be able to sail on the 15th. We received a $200 OBC not to cancel our cruise.

 

The only bright side of this crappy market is that oil is so low that hopefully that will help Carnival's bottom line.

Don't think that will help very much.  With the Grand quarantine, the cancellation of the Royal and Regal cruises, The issues with the Panorama.  The comments from the State department and others about not cruising.  The long wait times due to people canceling cruises.  I expect the stock will continue its downward movement. 

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With the latest State Department advisory I wouldn't get anywhere near the buy button on cruise stocks for awhile.. 

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Posted (edited)

I agree. I think it's in a downward spiral. Just hoping the oil prices might be one expense that will be a little lower for them. I think this is going to take a long time to recover.

 

I'm a little surprised about that state department announcement.

Edited by travelhound

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Posted (edited)

We weren't  able to use the proxy, but it was years ago and we're not sure if it was Carnival or RCCL.  We just send a copy of our brokerage account with details blacked out -- as other have said, brokerage accounts are just fine.  

Edited by CRUZBUDS

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1 minute ago, travelhound said:

I agree. I think it's in a downward spiral. Just hoping the oil prices might be one expense that will be a little lower for them. I think this is going to take a long time to recover.

I'm sure they'll be looking to do a whole lot of debt restructuring over the upcoming weeks.   Hopefully they'll have a little money to buy oil futures.. 

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22 minutes ago, bluesea321 said:

 

Tomorrow will be a bloodbath; would not surprise me if they put a trading hold on the stock.

Doubt you will see a trading hold, unless CCL makes some kind of major corporate announcement.  Do expect CCL to drop between 10 and 25% though down into the low 20's and potential breaking through 20.  You have to go all the way back to 2008 to get to another support level.

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6 minutes ago, npcl said:

Doubt you will see a trading hold, unless CCL makes some kind of major corporate announcement.  Do expect CCL to drop between 10 and 25% though down into the low 20's and potential breaking through 20.  You have to go all the way back to 2008 to get to another support level.

We might see a general market hold.  Futures just triggered the 5% down limit.  Tomorrow looks to be another bad day. 

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Posted (edited)
15 minutes ago, travelhound said:

I agree. I think it's in a downward spiral. Just hoping the oil prices might be one expense that will be a little lower for them. I think this is going to take a long time to recover.

 

I'm a little surprised about that state department announcement.

CCL has got to be burning through its on hand cash pretty quickly.  Total current liabilities from their last 10k was a little over 9 billion of which 1.5 billion is current portion of long term debt, account payable 750 million and customer deposits in the range of 4.7 billion, compared to cash on hand of 500 million and trade and other receivables of 440 million.

 

They have lots of assets, but they (mostly property and ships to the tune of 38 billion) are not very liquid, so they could very easily run into a cash crunch if this goes on very long.

 

 

Edited by npcl

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4 minutes ago, Kenswing said:

We might see a general market hold.  Futures just triggered the 5% down limit.  Tomorrow looks to be another bad day. 

That is more likely than a CCL hold.

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39 minutes ago, npcl said:

CCL has got to be burning through its on hand cash pretty quickly.  Total current liabilities from their last 10k was a little over 9 billion of which 1.5 billion is current portion of long term debt, account payable 750 million and customer deposits in the range of 4.7 billion, compared to cash on hand of 500 million and trade and other receivables of 440 million.

 

They have lots of assets, but they (mostly property and ships to the tune of 38 billion) are not very liquid, so they could very easily run into a cash crunch if this goes on very long.

 

 

What is the committed bank LOC and usage?

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6 minutes ago, buggins0402 said:

What is the committed bank LOC and usage?

They had a 3 billion revolving credit facility of which 2.8 billion was available in November 2019.

 

So gives them some breathing room, but I suspect they will need more.

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2 hours ago, PrincessLuver said:

 

Futures are already showing a 900 point drop for tomorrow morning.....yikes!!!

 

In the next 10 days or so we should expect virus in every state and deaths sadly in the majority of them by the end of month.    By the time they do act to curtail traveling and and lock downs ala Italy I suspect we'll be down another 15% or so, and if you got masks,  sanitizer solution,  and toilet papers you can make some serious money, LOL

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