Carnival Corp (CCL)

Carnival Corporation Stock (CCL) dropped by 6.60% from $13.64 to $12.74 in the trading on Tuesday October 3, 2023. The reasons why stock CCL down today includes:

• Interest rates: Carnival took on extensive levels of debt during the early parts of the pandemic in order to make it through closures. Now, rising interest rates are putting a lot of pressure on the company to figure out ways to refinance debt as it comes due.
• High oil prices:This could put an end to rebounding profits, and Carnival doesn't hedge fuel prices, as most of its competitors do. That has left it vulnerable to the recent oil price spike.
• Underwhelming guidance: The reason CCL stock down may have been due to management also gave underwhelming profit guidance for next quarter and the full year.

Carnival Corporation (CCL) shares fell 7.60% after the cruise operator lowered its annual loss forecast. Higher ticket prices and a steady demand for cruises are diving results.

https://www.fool.com/investing/2023/06/26/why-carnival-corporation-stock-sank-11-today/