Russia-Ukraine War is Crushing These 5 Stocks

3. Carnival Corporation & plc (NYSE:CCL

Number of Hedge Fund Holders: 32   

Year-to-Date Decline in Share Price as of July 8: 56.42%  

Carnival Corporation & plc (NYSE:CCL) is a leisure travel firm. In 2022, before the Ukraine war broke out, the firm had nearly 4% of total cruise capacity calling on Russian ports. In the wake of the Russian invasion, the company has been forced to cancel these stops at Russian ports. One of the most popular tourist stops is at Saint Petersburg and the disruption of services to the port has affected consumer confidence in the stock. Recession fears have also weighed on the stock in recent weeks. 

On June 29, Morgan Stanley analyst Jamie Rollo maintained an Underweight rating on Carnival Corporation & plc (NYSE:CCL) stock and lowered the price target to $7 from $13, noting the weak second quarter results and guidance numbers of the firm. 

At the end of the first quarter of 2022, 32 hedge funds in the database of Insider Monkey held stakes worth $369 million in Carnival Corporation & plc (NYSE:CCL), compared to 33 in the previous quarter worth $470 million.