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Why Carnival Stock Rose 18.7% in August

TheMotleyFool

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Shares of Carnival (NYSE: CCL) rose 18.7% in August, according to data from S&P Global Market Intelligence. The cruise line operator's stock was decimated earlier this year amid the COVID-19 pandemic, but has seen big spikes periodically throughout the spring and summer, whenever investors got their hopes up for a vaccine and a cruising recovery.

Though the company didn't have any earnings or financial releases, there was lots of August activity, with more U.S. cruise cancellations, but also some resumptions planned for later this year in Europe. And Carnival raised additional debt and equity during the month, buying shareholders a bit more time.

Image source: Getty Images.

Source Fool.com

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