Is This Cruise Stock About to Be Plundered?
The pandemic may have dealt a crushing blow to cruise line operator Carnival (NYSE: CCL) (NYSE: CUK). The company packed on an extraordinary amount of debt to get through its pandemic docking. Now that ships are finally setting sail, Carnival may still have rough seas ahead.
Not surprisingly, cruise lines were some of the hardest-hit companies during the COVID-19 pandemic's stay-at-home travel restrictions. After all, cramming thousands of vacationers onto a single, sea-going vessel doesn't exactly fit the description of an "essential business." Carnival borrowed heavily to survive a war of attrition against travel restrictions.
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Source Fool.com
