Carnival Corp. (CCL) is listing to port. How low will it sink?

Most people have heard about the grounding of the cruise ship Costa Concordia.  If you haven’t, then follow this link: http://tinyurl.com/7b596qk.

Carnival Corp. (CCL) is the parent corporation of the Costa Concordia.  Putting aside the human tragedy of the grounding, Carnival estimates that it will lose at least $85 – $95 million or $0.11 – $0.12 per share.

http://www.sacbee.com/2012/01/15/4190934/carnival-corporation-plc-required.html

I wrote one article on Carnival that said the stock should not be bought above $21.68 (http://www.myhighdividendstocks.com/stocks-that-pay-small-dividends/first-look-at-carnival-corporation-ccl).  That price was before the grounding of the Costa Concordia.  I think that Carnival was already heading lower due to the oncoming double dip recession.  Look at the March 2009 lows.  The ship wreck and ensuing fallout will only make matters worse for Carnival.

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DISCLOSURE – I don’t own Carnival Corp. (CCL)

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Published in: on January 17, 2012 at 1:57 pm  Leave a Comment  

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