RE: Happy new year4 Jan 2021 16:06
Mathsprof. As seasoned cruisers, we bought a few of these earlier in the year when they dropped to around £6, then sold them a few days later for £9. Bad move in hindsight but we were happy at the time..
Since then the cruise lockdown has continued for far longer than we had imagined it woould and the company has taken on a lot more debt and heavily diluted existing shareholders whilst having no income and many additional costs.
We are now squinting at the pin prick of light at the end of the tunnel hopefully but I think it will be many months yet before anything like normality returns to cruiseworld, although we have booked a Princess cruise with friends starting end of May, with the option to defer if problems still abound.
i year ago the SP was well north of £30 per share and climbing, and cruising was well and truly enjoying its heyday period. Since then the cruise industry has been decimated and the SP you are suggesting was after a sustained drop but before UK lockdown, following which SP plummeted. I suspect, like many shares following a crash, Carnival shares have had their bounce and whilst the vaccine rollout will certainly help the SP moving forward, I feel it will be at least a couple of years before cruising has recovered its finances sufficiently to justify £23+ per share. I certainly would not rule out more debt funding or share dilution first.
Whilst I would never come onto a board wishing the SP to drop, I would be tempted to re-enter if it did drop below £11 and today's drop without news suggests I may get there. Goodluck all.