Why Carnival Corp's Shares Jumped As Much As 39% on Tuesday
Shares of cruise line giant Carnival Corp (NYSE: CCL) were up as much as 39% in trading Tuesday as investors grew optimistic that a stimulus package would make its way through Congress. Shares settled throughout the day and by 2:50 p.m. EDT were up just 10.6%, still a nice gain for a stock that has been pummeled since the start of the year.
Let's start with the good news. Congress appears to be close to passing a stimulus package that would include checks to every American and a reported $500 billion for lending to businesses. The checks could help ease the impact of mass layoffs and even give consumers some extra money to take a cruise when the COVID-19 pandemic is over.
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Source Fool.com
