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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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
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