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Why Carnival Stock Soared 22% in May

TheMotleyFool 
0 0 08.06.23
Why Carnival Stock Soared 22% in MayPhoto, wide shot, wide-angle lens, Retail store, neutral atmosphere, photo by Joe Cornish: https://img.theapi.app/temp/5574eb69-dc38-42f3-aadd-6163ac8bd4a8.png
 

Share of  (NYSE: CCL) Stock rose 22% in May, according to data provided by S&P Global Market Intelligence. There wasn't a specific news item that sent the stock rising, but a variety of positive factors generated momentum around the stock.

Carnival Stock was crushed by the pandemic, and it's still not back to where it was prior. However, it's making strong progress, and these kinds of turnaround stories often capture investor interest since they present lucrative opportunities if the turnaround actually happens.

Carnival took many actions to stay afloat during the rough times when nobody was cruising, and while it has managed to stay upright, it has come at a high cost. It issued several rounds of new shares to pay off debt when revenue wasn't coming in, diluting its shares outstanding while debt soared.

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Source Fool.com

Carnival plc Stock

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