Miami-Based Cruise Ship Stocks Lose Half Their Value; Startup Guru Says Covid-19 Could Reach 1.7M Cases In Weeks

Covid-19 has already had a big effect on Miami, and some are saying that the number of new coronavirus cases could grow rapidly.

Royal Caribbean, one of Miami’s best run companies, has seen its share price fall from around $135 to around $68 as of this morning. The decline is almost exactly 50% in just a few months time.

Two other Miami-based cruise lines, Carnival and Norwegian, have seen similar declines.

A study published this week said that two thirds of respondents would turn down a free cruise over fears of the new virus.

Shares of Miami-based Spirit Airlines are also down by almost half. American Airlines, which dominates traffic at MIA, has also seen shares drop by a similar amount.

Covid-19 cases outside China are growing exponentially, a startup investor noted.

Paul Graham, the founder of startup incubator Y-Combinator, wrote on Twitter that there are now 13,000 cases outside China, but the number is doubling every three days. At that rate, there could be 1.7 million cases in just three weeks.

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Anonymous

“Due to corona virus we will not be able to upgrade to shore power”

Anonymous

I’ll be buying the stock. 😉

Honest.Truth

**HONEST PIECE OF ADVICE** If you are looking to buy right now W A I T! Brokers are running around town pretending they did not even hear about corona but all chatty about how mortgages dropped… Well, the 10 year note is still close to 1% and that will be going to zero by the end of the year, just like in europe and asia, in some European countries they indirectly pay you to take out mortgage, Denmark for example, thats rate the rates there on mortgages are negative. 30 year mortgages will be at 2.25% by the end of the year and going to zero in the next 3-5 years. Latam businesses are in major trouble as they are mostly china oriented with agriculture, metals and chemicals, they will get hit in the next quarter in a major way. Their currencies are already getting hit, so they are losing 3 fold, business is bad, fx is bad and miami’s condos prices are going down, and this is the most liquid asset they have to sell when they need to. So #1 they are certainly not buying now, #2 soon to be mass selllers. STOP listening to self serving realtors,… Read more »

alibaba

and how much is miami real estate going down, 20%? At least I would day, latam guys will need to start cashing out of their most liquid assets = miami condos…

Ashley89

New buildings are already down that much and its only beginning… foreign buyers gone for the next year or so. I would not want to be in a need to sell now, there are no bids in sight.

Anonymous

I was ready to buy a condo end of january but when start the situation in china i was suspicious what comes next. The broker is still call me every 2-3 days to ask me if we proceed and blablabla. The seller offered 5% discount. I asked for 20% and wait.

Anonymous

Time to get those good cruise deals, I already got a week in May with RCL for $300!

Anonymous

I’d wait for them to pay us.

Anonymous

Is norovirus included?

Anonymous

Governor DeSantis – Close all passenger cruise ports down immediately until the coronavirus problems gets under control.

Anonymous

Love how the editor had to throw in the shore power picture at the end.

Anonymous

Is that what it looks like? I thought it was a hamster wheel and a generator.

Anonymous

Make sure you get suite with a balcony in case you have a long unexpected stay.

Anonymous

Coronavirus doesn’t sound like Miami winning to me.

Anonymous

It’s gonna be a Game Changer.

Tony

Lol ???? If things keep going at this pace Bernie won’t have rich people to tax (just kidding).

But in all seriousness it’s time to back up the cart on Oil, Travel and Leisure, Tech stocks, and Banking stocks…. beer flu will be gone when the warm weather returns across the world…. and at that point people will have cabin fever and want to travel, and spend money.

It’s going to be easy to scalp 20-30% gains, once the news shuts up.

Anonymous

The 2010 debacle with that one Carnival cruise put me off of them for life, but coronavirus can be caught a lot more easily. All of a sudden just now are antibacterial cleaners used?

Anonymous

This is not bacterial. It is a virus. Big difference. Antibacterial cleaners does not kill viruses.

Anonymous

Florida in trouble.
100 million tourist. Port of Miami is the largest cruise port in the world with over 5 million passengers. This Coronavirus will kill the state.

Anonymous

Don’t worry, all this will fade like the rest of them swine flu, norovirus, bird flu and business will be back to normal.

Anonymous

literally, people get all worked up for like a week then forget all about it

Anonymous

Oh Nooooo!!!!!