Carnival Stock Soars 20% on Saudi Investment and New Liquidity Assessment
Embattled cruise line operator Carnival (NYSE: CCL) is sailing higher Monday after Saudi Arabia's sovereign wealth fund disclosed a large stake in the company and analysts suggested it has sufficient liquidity to survive through November even if it's unable to sail any ships.
The two new developments sent Carnival's stock soaring almost 20% in morning trading.
Image source: Carnival.
Source Fool.com
