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Carnival Stock Price Dropping


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54 minutes ago, Reagan0712 said:

CCL closed at $14.57 today.  Debating if I should continue to wait, buy just 50 shares and hope it drops further for the remaining 50, or just go all in.

 

It truly is difficult to know what to do.  The news keeps getting worse and worse.  Ohio's Governor is delaying our Primary Election on Tuesday until June 2nd after telling us on Sunday that the Election must go on as scheduled.  

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1 hour ago, npcl said:

Usually it is late March/early April when the next results come out, 10Q filed and the next quarterly results call.  Last yeat it was April 9. in 2018 it was March 22, in 2017 March 30.  I don't expect them to be in any hurry. Probably will be released just before the annual meeting (if it is held) on April 6.

 

Thanks for your reply.  I missed that conference call in 2019.  That's why, I guess,  I did not recall it being held that late. 

 

Wouldn't the Annual Meeting have to be held even if there were no physical attendees?    

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2 minutes ago, rkacruiser said:

 

Thanks for your reply.  I missed that conference call in 2019.  That's why, I guess,  I did not recall it being held that late. 

 

Wouldn't the Annual Meeting have to be held even if there were no physical attendees?    

It could be delayed.  I have seen them done via phone and teleconference.  When I have seen that done it is normal to announce a delay and send out a new proxy statement.  While there is need for a shareholder vote, it is my understanding that NYSE listed companies do not need to have a physical meeting.

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On 3/15/2020 at 3:12 PM, VMax1700 said:

Don't worry about exchange rates, buy Carnival PLC on London Stock Exchange in pound stg.

Closing price Friday was 1161.00p per share so 100 shares is £1161 + fees (then allow for movement on Monday).

You can't buy the shares directly and you need a bank, stock broker or on line broker to purchase. (look at DeGiro.co.uk).  

Thank you for the help, I’ll be looking into it first thing tomorrow. 

Hope all is well for you in the South. My Husband returned from Limerick this week as the production he was on shut up shop in haste. I envy your more decisive government while in the North we are stuck waiting for the mainland to give us permission for every move we make 🙄 

take care 

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1 hour ago, Reagan0712 said:

CCL closed at $14.57 today.  Debating if I should continue to wait, buy just 50 shares and hope it drops further for the remaining 50, or just go all in.

If the $225.00 or so makes a big difference to your budget, I'd suggest that you don't gamble the rent money...

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16 hours ago, Daniel A said:

If the $225.00 or so makes a big difference to your budget, I'd suggest that you don't gamble the rent money...

Not gambling rent money and $225 only buys 15 shares.  I’m cheap and impatient.  I’d like to see it drop to around $10 but don’t believe that will happen.  Willing to buy 50 shares at a certain price and then 50 more if it drops lower or possibly rises a little. This is why I avoid individual stocks but the OBC is tempting me.

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2 hours ago, Reagan0712 said:

Not gambling rent money and $225 only buys 15 shares.  I’m cheap and impatient.  I’d like to see it drop to around $10 but don’t believe that will happen.  Willing to buy 50 shares at a certain price and then 50 more if it drops lower or possibly rises a little. This is why I avoid individual stocks but the OBC is tempting me.

Hi Jo Anne, It’s down to $12.59 now...what a steal. I would get the 100 shares now and enjoy your OBC when the ships are sailing again. We bought at a much higher rate but have had so far over $1000 in SBC plus dividends. 

Edited by ellbelle
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It is said that the bond market is better at projecting the future of equities than the stock market itself.

 

Today  RCL  11/22 bonds are at YTM 16.791, CCL 10/15/20 now at 13.122 YTM, up from the 3% range YTM just over a week ago.

 

Considering that the 10 year treasury is less than 1%, starting to look like the bond market does not look good for the cruise lines.

 

RCL is number 2 BBB rated company in terms of the highest YTM,  CCL is 4th and while BBB today it was graded higher last week.

 

Clearly bonds have dropped (resulting in higher yields) in the past few days, but most similarly rated companies have not dropped nearly as much as the cruise lines. The other companies  close are ones where BK is possible.

 

 

Edited by npcl
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6 hours ago, Reagan0712 said:

Not gambling rent money and $225 only buys 15 shares.  I’m cheap and impatient.  I’d like to see it drop to around $10 but don’t believe that will happen.  Willing to buy 50 shares at a certain price and then 50 more if it drops lower or possibly rises a little. This is why I avoid individual stocks but the OBC is tempting me.

I'm sorry, I should have worded my post differently.  The $225 I was referencing was the difference between purchasing the 100 shares at the current price per share (at the time of your earlier post) rather than buying half then and waiting for it to drop to $10.

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From CNBC blog...

 

"American Airlines said it has extended the time on voluntary unpaid leave options for flight attendants, mechanics and gate agents to up to 12 months, Reuters reported. That indicated the company doesn’t expect travel demand to rebound any time soon. Unpaid leave of absence for staff is one of the ways some airlines are trying to save costs as more people cancel their trips in light of the global pandemic.  — Saheli Roy Choudhury"

 

 

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14 hours ago, ellbelle said:

Hi Jo Anne, It’s down to $12.59 now...what a steal. I would get the 100 shares now and enjoy your OBC when the ships are sailing again. We bought at a much higher rate but have had so far over $1000 in SBC plus dividends. 

At that price will Carnival even give OBC for 100 shares or will they up it to 200. I'm sure they're bleeding money right now, will they still pay dividends?

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IMHO the dividend will be eliminated to preserve cash flow. Shareholder OBC is anyones guess. My only hope is that the cruiselines survive. They have to do whatever they need to do to survive. $11.41 in premarket right now. 

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I chickened out at $10. My order at $8 just got done!


It's very scary. I had expected a pause at Dow 22,000. Now, Dow 20,000 has been breached. Boeing below $100. Oil at $20!

 

Keep your powder dry and conserve cash. Yes, cash will be king.


 

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22 hours ago, npcl said:

It is said that the bond market is better at projecting the future of equities than the stock market itself.

 

Today  RCL  11/22 bonds are at YTM 16.791, CCL 10/15/20 now at 13.122 YTM, up from the 3% range YTM just over a week ago.

 

Considering that the 10 year treasury is less than 1%, starting to look like the bond market does not look good for the cruise lines.

 

RCL is number 2 BBB rated company in terms of the highest YTM,  CCL is 4th and while BBB today it was graded higher last week.

 

Clearly bonds have dropped (resulting in higher yields) in the past few days, but most similarly rated companies have not dropped nearly as much as the cruise lines. The other companies  close are ones where BK is possible.

 

 

The bottom continues to fall out of CCL bonds the 10/15/20 CCL bond that was yielding 3% ytm last week is now selling at 25.36% YTM.  You have junk bonds with lower YTM numbers.

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This is why we didn't want a FCC of $15,000. We would have much preferred a refund of the $15,000.

CCL and the rest of the cruise industry is in very deep trouble.

That FCC is not going to be worth very much if this keeps up.

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