Carnival Corporation's (NYSE: CCL) CEO recently made a surprising announcement. Despite the company's tremendous debt, it has no plans to issue shares to pay down its obligations. Such news likely relieves its shareholders, who understandably feared further share dilution.

However, cruise line stocks like Carnival still have a long road to recovery from the damage caused by the pandemic. Hence, the question for investors is whether this decision not to add shares makes Carnival a buy.

The surprising news came when CEO Josh Weinstein told Yahoo! Finance at the 2023 Milken Institute Global Conference that Carnival had no plans to sell more shares of the stock. Weinstein added that bookings for the summer travel season have improved, so much so that it just experienced the greatest number of bookings in its history over a three-month period.

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Source Fool.com