Financial News
Carnival stock price tumbles after suffering a ransomware attack
Shares of Carnival PLC (LON: CCL) tumbled around 4% on Tuesday after the cruise operator said it suffered a ransomware attack on one of its ICT systems. Carnival stock price plunged before recovering to trade in the green again.
Fundamental analysis: Investigation ongoingCarnival, one of the largest travel leisure companies in the world, said it will start an investigation into a ransomware attack on one of its brand’s information technology systems. In the regulatory filing, Carnival said the cyber attack gained unauthorized access to personal info of the company’s guests and staff.
“Based on its preliminary assessment and on the information currently known (in particular, that the incident occurred in a portion of a brand’s information technology systems), the Company does not believe the incident will have a material impact on its business, operations or financial results,” Carnival noted in an SEC filing.
“Nonetheless, we expect that the security event included unauthorized access to personal data of guests and employees, which may result in potential claims from guests, employees, shareholders, or regulatory agencies.”
Carnival refused to reveal the identity of the affected brand and provided very little detail. The Miami-based corporation hasn’t had a great year regardless of the recent attack as it faced many challenges such as suspension of its cruises for several months because of coronavirus pandemic and travel restrictions.
Carnival said that some data files were downloaded during the attack and that there were no guarantees that IT systems of its other cruises will not be impacted. The attack was conducted using ransomware, a malicious program that hackers use to gain control of files in the system and then make requests such as payments to recover the files.
Carnival said it hoped the attack will not affect its business and financial performance.
Technical analysis: Stock price recoversCarnival stock price initially tumbled around 4% before racing higher to erase gains and trade around 1% in the green. The cruising industry has been one of the worst-hit sectors in the world amid the pandemic.
Carnival stock daily chart (TradingView) Shares of Carnival now trade around 75% lower compared to the beginning of the year. All attempts from the side of buyers to stage a relief rally have failed so far. The multi-year support is located just below the 600p handle.
SummaryCarnival Corp said it will initiate an investigation into the recent ransomware attack that included unauthorized access into one of its brands’ information technology systems. The company said the hackers managed to download some data files during the attack.
The post Carnival stock price tumbles after suffering a ransomware attack appeared first on Invezz.
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
