Why Carnival Shares Fell 60.6% in March

Shares of Carnival (NYSE: CCL) slid 60.6% in March, according to data provided by S&P Global Market Intelligence, after the cruise company temporarily halted cruises and reported a net loss for the quarter compared with a year-earlier gain.

Carnival has been under pressure since passengers fell ill with COVID-19, the illness caused by the novel coronavirus, on its ships. On Carnival's Diamond Princess, part of the Princess Cruises fleet, the virus spread to at least 700 passengers as the ship was quarantined off Japan. Press reports cited missteps by the ship's medical staff as one of the reasons for the contamination. More contaminations occurred on the cruise company's Grand Princess ship, which was quarantined off the coast of California last month.

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Source Fool.com