On November 14, 2020, I announced that I added Carnival Corp. (NYSE: CCL) to my investing portfolio. That purchase has been lucrative, generating nearly 40% gains as of Friday’s close. With such success in the purchase, I was waiting for a good time to buy some more. Today felt like it.
Check out my investment portfolio FREE here!
I Loaded Up On CCL Stock This Morning
Given the strong gains and what I believe to be a coming boom in travel, I decided that with the dip this morning, I’d take the opportunity to buy more Carnival Corp.
But I didn’t just buy SOME more. I bought A LOT more.
In fact, I more than tripled my CCL stock holdings with a big buy this morning, and I think this is going to be a move that pays off in a big way.
My Reasons For Investing
I outlined the reasons I find CCL stock to be such a huge opportunity in the article linked to above. So, I’m not going to go into too much detail here. Nonetheless, the big reasons I decided to take the dive with the cruise line include:
The Stock Is Battered. Since the COVID-19 pandemic began, CCL stock has been battered and beaten. As a result, I believe that the stock is trading at a tremendous discount.
Recent Capitalization. Carnival recently announced that it would be raising funds. While the stock took a bit of a hit on the date of the announcement, it quickly recovered. This is much needed funding to get the company through the remainder of the COVID-19 pandemic, setting the company on a strong financial foundation.
Coming COVID-19 Vaccine. Recently, news broke surrounding positive results from two COVID-19 vaccine candidates. As a result, the COVID-19 pandemic may be in the past relatively soon, which is great news for CCL and any other company in the travel industry.
The Urge To Travel. Once the pandemic is behind us, consumers won’t just want to travel, they’ll have a driving urge to do so. After all, being couped up for several months will lead to a need for a vacation. This urge will likely increase demand for cruises. However, with the economic trauma that has taken place, consumers will want low cost options. CCL fits the bill!
The Bottom Line
The bottom line here is as simple as can be. I’ve made some money with CCL and I want some more. I believe that there’s still opportunity for a tremendous recovery ahead and I want to be part of it. So, I decided to load up on CCL stock. You can check out the rest of my portfolio here.
I am not an investment advisor or broker dealer. This is not a solicitation to buy or sell stock.
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