3 Things Carnival Stock Bulls Need to Happen Soon
The cruise ship industry has gotten hit hard by the coronavirus pandemic, and Carnival (NYSE: CCL) (NYSE: CUK) was one of the biggest casualties among stocks in the S&P 500. Because of the COVID-19 outbreak, Carnival and its peers have had to suspend cruises for months, and that caused a liquidity crisis that pushed their financial conditions to the brink. Now, though, investors have gotten a lot more optimistic that things might get back to normal sooner than originally feared, and that's prompted shares to more than triple from their lowest levels in early April.
Despite the big bounce in its stock, Carnival isn't out of the woods yet. It needs a lot of things to go right in order to justify the big recovery in its stock price. If three particular things don't happen soon, it could cause Carnival's stock to lose much or all of its recent hard-fought gains.
Image source: Carnival.
Source Fool.com
