On Thursday, Carnival Corp (NYSE:CCL) gave a sobering business update. While bookings for 2021 have somewhat recovered, the update also revealed that Carnival had used every financial maneuver to raise liquidity. Carnival stock sank 3%, adding to its year to date (YTD) -67% loss.
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Today, investors have priced Carnival stock as if the world’s largest cruise line will never recover. Its two smaller rivals, Norwegian (NYSE:NCLH) and Royal Caribbean...
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