CCL Stock Price: Carnival Corp ready to resume rally amid summer plans, Grand Princess lawsuit

Carnival Corp is set to extend its gains on Tuesday as it ramps up preparations.
Investors are shrugging off a lawsuit related to a coronavirus death on the Grand Princess.
Closing above $17.24 is critical to moving even higher for CCL.

Carnival Corp's shares closed at $16.80 on Monday – only marginally higher – yet this trend is set to extend. Pre-market indicators are showing a rise of over 2%. Investors are cheering the cruise company's preparations to welcome holidaymakers in the summer.

The firm is the cleaning and disinfecting its large ships to protect its clientele, which tends to be elderly and vulnerable to the disease. Another measure that the company is set to deploy is thermal scanners. CCL is working with Infrared Cameras Inc to add such systems that measure temperature. The idea is to quickly isolate crew members and guests for fever, one of the symptoms of COVID-19.

Coronavirus cases and deaths continue falling in Asia, Europe, and also North America, to a lesser extent. Investors seem to shrug off previous concerns of cruisers turning into "floating Petri dishes." However, Carnival still has to encounter a lawsuit by a family member of a person that died from the disease on the Grand Princess. The person died at a California hospital and was 64 years old.

Legal action may result in high compensation, but perhaps investors see it as the cost of doing business. It is essential to note that Carnival raised a substantial amount of cash, and may weather a protracted battle in and outside courts.

CCL Stock Dividend

At the time of writing, NYSE: CCL is changing hands at around the previous peak of $1.7.24 recorded late last week. That level is critical to unleashing further gains for the stock. The 52-week high is $53.86 and at current levels, Carnival is already more than 100% off the 52-week trough of $7.80.

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