After the Costa Concordia ran aground on Friday, January 13, 2012, it wasn’t a shock that various cruise line stock prices would drop as a result. Yet, analyzing the current stock prices and history, the stock prices are not as low as one may think and they are already increasing.
When the NYSE opened on Tuesday, January 17, the Carnival Corporation (CCL) stock had dropped to just below $30 after trading at above $34 on Friday. Since Tuesday, the stock prices have been quietly climbing and have already reached $32. It’s interesting to note that the 52-week low was actually $28.52 which occurred in February 2011.
Looking into the history of CCL stocks, Carnival Corporation enjoyed stock prices of higher than $50 in 2007. Yet after the stock crash in 2009, stock prices fell to below $20.
Looking at another major cruise corporation, Royal Caribbean Cruises Ltd (RCL), there is a similar pattern of stock price decreases and increases. Highs were reported in 2007 with dramatic lows of less than $10 reported in 2009 as the market crashed. Their 52-week low was $18.70 which was experienced in September 2011. Their stocks are currently trading at around $28.