Carnival stock slumps after cancelling more cruises in first part of 2021

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Shares of Carnival Corp. slumped 3.1% in premarket trading Wednesday, after the cruise operator said it has cancelled additional cruises for the first part of 2021, including all cruises leaving from U.S. ports through Jan. 31. In addition, the company said it has cancelled embarkations from Baltimore, Charleston, Jacksonville, Long Beach, Mobile, New Orleans and San Diego are cancelled through Feb. 28, and embarkations on Carnival Legend out of Tampa through March 26. Carnival said the cancellations come as it works to meet the requirements outlined by the Centers for Disease Control and Prevention (CDC) for resuming cruise ship operations. “We are committed to meeting the CDC requirements and keeping our guests and business partners informed of our progress,” said Christine Duffy, president of Carnival Cruise Line. The stock has dropped 64.5% year to date through Tuesday, while the S&P 500 has gained 11.7%.
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