Carnival’s Stock Rises After Record Breaking Booking Numbers

CCL stock - Carnival’s Stock Rises After Record Breaking Booking Numbers

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Carnival Corporation (NYSE:CCL) stock has gained 3% after the company announced that its seven-day booking total starting from March 28 to April 3 was its busiest booking week in the entire business history, reflecting a double-digit rise from the previous total booking for seven days. CCL stock hit $19.74 after the announcement.

With cruising in Australia now restarting, the company is working on its return plans with details expected to be announced soon.

The President of Carnival Cruise Line, Christine Duffy stated that a number of factors contributed to the demand and the booking numbers. He cited the general excitement of the restart of industry and the successful return of the entire fleet. In addition an increase in customer demand due to Mardi Gras, the support of travel advisor partners, as well as the efficient work of the entire team at Carnival all were pivotal to the company’s record breaking success.

Out of Carnival’s 23 ships, 22 ships were back in operation across the U.S. homeports. The company’s final ship, the Carnival Splendor, is expected to return from May 2. Carnival has led the industry in terms of consumer demand and restart.
Its latest ship, Carnival Celebration will be at Port Miami in November. In 2023 it will put into service another Excel-class ship, this one based in Galveston Texas, named the Carnival Jubilee. It is expected that the company will have a higher sailing capacity by the end of the year than it had in 2019. This could positively affect the bottom line.

Carnival has faced many challenges over the past two years. And despite the effects of the pandemic subsiding, CCL stock hasn’t picked up yet. It has been struggling over the past few weeks due to analyst downgrades and the rising costs of fuel. However, this news comes as a fresh outlook for the future of the cruise line. As travel resumes and the booking start to pick up, CCL stock might be able to continue the upward streak.

On the date of publication, Vandita Jadeja did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Vandita Jadeja is a CPA and a freelance financial copywriter who loves to read and write about stocks. She believes in buying and holding for long term gains. Her knowledge of words and numbers helps her write clear stock analysis.


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