Is Carnival Stock A Buy As Cruising Industry Reopens?

Is Carnival Stock A Buy As Cruising Industry Reopens?

Share to Linkedin Carnival Corp. (NYSE: CCL), the largest U. S. cruise operator, has seen its stock rally by almost 20% over the last month, driven by positive news on multiple fronts. Carnival confirmed that sailings from U. S. ports would begin on the Fourth of July weekend, with its Carnival Vista ship sailing from the Port of Galveston, Texas on July 3, with another ship likely to sail from Florida later in July. Moreover, Carnival will also resume its Alaska sailings in July, after Congress passed the Alaska Tourism Restoration Act which temporarily enables cruise ships to sail to Alaska, bypassing a legal requirement to make a stop at ports in Canada. Cruise companies had previously canceled their trips to Alaska, a popular summer cruising destination. The U. S. CDC also updated guidelines for cruises in late May, noting that cruise liners with at least 95% vaccinated passengers and crew on board will not be required to wear a mask or maintain physical distance in any areas. The move could enhance confidence that cruises are safe and help to drive demand to an extent. Now while the end of the company's over-year-long cruising hiatus is finally in sight, we