Carnival Corporation was down about 5% in pre-market trading as one of its cruises, the Grand Princess ship, was being held off the California coast so health officials could test passengers for the coronavirus.

The move follows the death of a passenger who died less than two weeks after coming home from a trip on the Grand Princess. Some of the ship’s current passengers were on an earlier trip with the victim.

Two other Carnival cruises, one in Italy and another in Japan, were previously quarantined because of the coronavirus. The company said on Feb. 12 that it had canceled operations from ports in China and other parts of Asia as it deals with the outbreak. Carnival said the disease’s impact on bookings and cancelations would have a material impact on its results.

Cruise stocks have sunk during the coronavirus outbreak. Carnival has fallen around 28% over the past month, while Norwegian Cruise Line Holdings has dropped 39% and Royal Caribbean almost 35%.

Source: CNN News


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