Why Carnival Shares Are Trading Lower Today

Shares of several cruise line operators, including Carnival Corp CCL, are trading lower amid reports that COVID-19 outbreaks on board are causing several ships to cancel stops.

The Carnival Freedom, which left on a trip Saturday, had planned stops in Bonaire and Aruba canceled as a result of COVID-19 outbreaks on the ship.

The ship is carrying about 2,500 passengers and more than 1,000 crew members, however, Carnival did not reveal how many people on board tested positive.

"Carnival Freedom is following all protocols and has a small number on board who are in isolation due to a positive COVID test," the company said in a statement. "Our protocols anticipate this possibility and we implement them as necessary to protect the health and safety of our guests and crew."

Carnival is the largest global cruise company, set to deploy 50 ships on the seas by the end of fiscal 2021.

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CCL Price Action: Carnival has traded as high as $31.52 and as low as $16.32 over a 52-week period.

The stock was down 3.77% at $20.42 at time of publication.

Photo: courtesy of Carnival.