Carnival’s stock has jumped almost 150% in the last 2 months, but one money manager says it’s set for a fresh crash
- After tanking during March as the coronavirus hit travel, cruise operator Carnival has seen its stock price surge almost 150%.
- But one analyst warns that even as travel starts to return, the stock is set for a fresh crash.
- Michelle Connell, president of Portia Capital Management, said she expects the cruise giant to see a major stock price fall as short-sellers circle the company, and cash flows struggle because of the pandemic
- Connell asked: “How much less is their revenue going to be after the pandemic?”
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Those who thought Carnival’s stock got a boost from more upbeat employment figures last week should think again, according to one analyst, who says the cruise giant’s stock is in for a bumpy ride in the coming months.
Carnival crashed to a low of $7.80 at …continued .
[Source: Business Insider]