Is Now the Time to Buy Carnival Cruise Line Stock?

Carnival Cruise Line (NYSE: CCL) has been hit as hard as any company by the coronavirus. Its operations have shut down entirely -- as has the entire cruise industry -- and its Princess brand has suffered even more with passengers becoming infected with COVID-19 and a number of them dying.

Revenue has essentially stopped for the company. It's now operating under a Centers for Disease Control (CDC) order to halt all sailings for 100 days (or until certain conditions are met), and it remains uncertain as to how willing consumers will be to take cruises even when they are allowed to.

This pileup of bad news has sent shares of the company plummeting from their 52-week high of $56.04 to $12.22 per share before the market opened on April 21. Carnival, however, has tapped $3 billion from its revolving credit facility. It has also raised $4 billion at a hefty 11.5% interest and has sold another $2 billion in stock.

Source Fool.com