Why Carnival Stock Is Rising as the Market Sinks
Shares of Carnival (NYSE: CCL)(NYSE: CUK) were riding a wave of enthusiasm 4% higher in morning trading Friday, even as the overall market was down. The cruise ship operator released a third-quarter business update that showed bookings for 2022 cruises were running ahead of pre-pandemic levels.
The cruise industry was arguably the hardest hit by the pandemic because even when the rest of the economy was allowed to reopen, cruise operators were forced to remain in port. It took the threat of a lawsuit from Florida against the U.S. Centers for Disease Control and Prevention before the agency relented and allowed ships to sail once again.
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Source Fool.com
