CCL Stock Price: Carnival Corp set to surge by 10%, shrugging off coroanvirus-related investigation
|- Carnival Corp is set to kick off the short trading week above $16.
- Optimism regarding the economy's comeback and CCL's financial position underpin the move.
- Investors are shrugging off reports that a law firm is investigating Carnival's coronavirus conduct.
Pre-market trading is already open and it is pointing to a robust start for Carnival Corp. The cruise company is trading at around $16 ahead of he open and after the long Memorial Day Weekend in the US.
NYSE: CCL is benefiting from several positive developments. First and foremost, COVID-19 statistics continue edging lower, both in America and in other developed economies – where its clients come from. Asian countries are already well ahead of the game.
The gradual reopening of various economies is accompanied by new vaccine hopes. After Moderna inspired markets last week, another American pharmaceutical, Novavax, is starting a human trial in Australia. Carnival's elderly clientele will likely feel far safer if immunization is at hand.
And while Sino-American relations remain tense, both countries have vowed to uphold the trade deal, and that is enough to comfort investors. And as mentioned on Monday, insider buying is also boosting confidence in Carnival's shares. The firm benefits from a stronger financial war chest than its rivals.
An adverse development over the long weekend comes from an investigation against Carnival Corp. Pomerantz, a law firm specializing in shareholders' rights, is looking into claims that CCL was touting cruises while COVID-19 was already raging. It follows in the footsteps of an inquiry by the US House Committee on Transportation and Infrastructure.
CCL Stock Dividend
Investors are betting that NYSE:CCL will continue paying out dividends – even if they are lower than the gradual increases in payouts seen beforehand. If Carnival indeed begins changing hands at around $16, it would be the highest since late April yet far from the 52-week high of $53.86
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