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Carnival Corporation (CCL) - free report >>
Why Carnival (CCL) Spiked 10.8% on Friday
Shares of cruise operator Carnival Corp. (CCL - Free Report) spiked in Friday trading after the company provided investors with a business update. CCL closed up almost 11% to $16.16 per share.
Carnival reiterated that it continues to see new bookings demand for 2021, and that cumulative advance bookings remain within historical ranges. While Carnival still expects to burn through roughly $650M a month through the end of 2020, it is taking steps to both reduce the burn rate and raise enough cash to help tide it over.
Carnival also said that it plans to sell upwards of 13 ships in its fleet to help decrease capital spending requirements. The company wants to eventually unload about 9% of its total capacity.
Today’s news also boosted shares of cruise liners Royal Caribbean (RCL - Free Report) and Norwegian (NCLH - Free Report) .
Year-to-date, CCL has plunged nearly 70% compared to the S&P 500’s decline of 1.4%%.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
See the 5 high-tech stocks now>>