Carnival Stock Surges On Big Sailing Plans. Will The Rally Continue?

Carnival Stock Surges On Big Sailing Plans. Will The Rally Continue?

UKRAINE - 2021/06/26: In this photo illustration, a Carnival Corporation & plc logo seen displayed ... [+] on a smartphone. (Photo Illustration by Igor Golovniov/SOPA Images/LightRocket via Getty Images)

SOPA Images/LightRocket via Getty Images

Carnival (NYSE: CCL), the largest U.S. cruise operator, saw its stock rally by about 9% in Wednesday’s trading and remains up by about 3% over the last week (five trading days). In comparison, the S&P 500 declined slightly over the last week. The recent rally comes as the company outlined plans that could see its entire fleet returning to service by the end of 2021, increasing its total operating capacity to nearly 75% by the end of the year. This marks a sooner than expected ramp-up of operations, as the company only resumed cruises from U.S. ports earlier this month. So is Carnival stock poised to rally further or is a correction looking imminent? Based on our machine learning engine, which analyzes Carnival stock’s historical price movements, the stock has a 51% chance of a decline over the next month, after rising by about 3% over the last five trading days. See our analysis on Carnival Stock Chances Of Rise