The coronavirus stock market crash is in progress. The storm came fast and furious with the U.S. and Canadian stock markets falling about 21% in a month. And that was after they were somewhat lifted by a relief rally on Friday.

The turnaround or contrarian stock ideas I discussed, in my last video, were way too early to be considered. My positions in Carnival (NYSE:CCL, LSE:CCL) and Booking Holdings (NASDAQ:BKNG)stocks, respectively, are down 40% and 18%.
In the previous video, I said Carnival stock could triple one’s investment. At the current levels, it can be a six-bagger over five years, if it makes a comeback.
Of course, the coronavirus pandemic can drag these stocks even lower. In the worst-case scenario, Carnival could go bankrupt. However, it’s too early to conclude that it will. The probability of it going bankrupt should be slim given it is a leading global cruise company and has an A-grade balance sheet
How the Coronavirus is Affecting Stocks
Stocks are driven by their underlying businesses. Due to the coronavirus, Walt Disney (NYSE:DIS) will begin shutting down its theme parks in Florida and Paris and new departures for Disney Cruise Line starting this weekend for a month. However, it’ll continue to pay its employees.
These follow the forced shutdowns of its parks in Shanghai, Hong Kong, and Japan. Without a doubt, all of these suspended operations will pressure Disney’s near-term earnings.
Across Italy, Starbucks (NASDAQ:SBUX) is closing its stores until April 3, while Burger King, a part of Restaurant Brands (NYSE:QSR, TSX:QSR), will remain closed until the end of the health emergency
It’s no wonder Disney stock has fallen 27% since its high in February. Starbucks stock has dropped 22%, and Restaurant Brands’ stock value is slashed 31%.
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