What's Going On With Carnival's Stock?
Portfolio Pulse from Erica Kollmann
Carnival Corporation (NYSE:CCL) shares are trading lower, down more than 7% over the past five days. Despite a recent rally due to Norwegian Cruise Holdings Ltd. (NYSE:NCHL) raising its earnings guidance, Carnival's stock has been impacted by a lowered price target from Truist Securities and a high short interest. Princess Cruises announced an extension of itineraries in Japan for the 2025-26 season.
May 29, 2024 | 4:50 pm
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POSITIVE IMPACT
Norwegian Cruise Holdings Ltd. raised its earnings guidance, which initially caused a rally in cruise stocks, including Carnival. However, this positive impact was short-lived for Carnival.
The raised earnings guidance from Norwegian Cruise Holdings initially had a positive impact on cruise stocks, including Carnival. However, this effect was not sustained for Carnival due to other negative factors.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Carnival Corporation shares are down over 7% in the past five days. Truist Securities lowered its price target from $18 to $17, and the stock is trading below its 50-day moving average. High short interest is also a factor.
The lowered price target from Truist Securities and the high short interest are significant negative factors impacting Carnival's stock. The stock trading below its 50-day moving average further indicates bearish sentiment.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100