Why Carnival Stock Jumped 31% in November
Carnival Stock (NYSE: CCL)(NYSE: CUK) gained 31% in November, according to data from S&P Global Market Intelligence. It's benefiting from investor confidence as the Federal Reserve has made positive comments about its handling of interest rates and its pause in increases.
Carnival became a meme-stock star when the travel industry dissolved almost overnight amid a global pandemic. It's the largest cruise operator in the world, and while revenue wasn't coming in, it had the most to gain from a rebound.
It has now demonstrated a sustained uptick in operations, with record third-quarter revenue of $6.9 billion and ongoing elevated booking levels. Its net profit for the quarter, $1 billion for the period ended Aug. 31, was its first since operations ceased in 2020.
Source Fool.com
