Why Carnival's Stock Is Trading Lower Today

Carnival Corp CCL shares are trading lower on Wednesday after the company-owned Princess Cruises announced the cancellation of its cruises through next year, citing health and government restrictions on border and port access.

Carnival is the largest global cruise company, with more than 100 ships on the seas at the end of 2019. Its portfolio of brands includes Carnival Cruise Lines, Holland America, Princess Cruises, and Seabourn in North America; P&O Cruises and Cunard Line in the United Kingdom; Aida in Germany; Costa Cruises in Southern Europe; and P&O Cruises in Australia.

Carnival also owns Holland America Princess Alaska Tours in Alaska and the Canadian Yukon. Carnival's brands attracted about 13 million guests in 2019.

Carnival Cruise shares were down 4% at $15.26 at the time of publication on Wednesday. The stock has a 52-week high of $51.94 and a 52-week low of $7.80.