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Top Gainers on Friday: Carnival, Royal Caribbean, United Airlines

Carnival, Royal Caribbean, and United Airlines stocks have lost about 61-68% of their value since the beginning of COVID-19 pandemic compared to...

Written by Hivelr News · 51 sec read >
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Carnival – (NYSE: CCL) Carnival stock gained 10.84% today as the company continues to see booking demands for the next couple of years. The company’s stock has dropped 68.51% since the COVID-19 pandemic started and parked most of their fleets. Based on the 8-K filing to the SEC, the company is currently burning over $650 Million a month. The company is putting together a plan to increase their revenue and reduce costs by selling 13 ships from their fleets or equal to a 9% reduction. The sales will reduce the operating cost by approximately $250 Million a month.

Royal Caribbean – (NYSE: RCL) Royal Caribbean stock rose by 9.87% after the purchase announcement of Silversea Cruises using the stock deal. The company is setting a strategic position to grab the upswing of cruise trips after the economy is started to opening up.

United Airlines – (NASDAQ: UAL) United Airlines stock gained 8.29% after the market closed on Friday. The stock showed a strong rebound despite the slowdown of flight booking due to the second wave of  COVID-19.

Carnival, Royal Caribbean, and United Airlines stocks have lost about 61-68% of their value since the beginning of the COVID-19 pandemic compared to 2.24% lost for the S&P 500 Index. The airlines and cruise ships are the hardest industry to be hit by the pandemic. Simultaneously, a strong technology sector supported the S&P 500 index as more people rely on technology to continue their routine from work, school, and entertainment.

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