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Why Carnival Stock Soared 22% in May

Why Carnival Stock Soared 22% in May

Share of Carnival (NYSE: CCL) Stock rose 22% in May, according to data provided by S&P Global Market Intelligence. Carnival Stock was crushed by the pandemic, and it's still not back to where it was prior. It issued several rounds of new shares to pay off debt when revenue wasn't coming in, diluting its shares outstanding while debt soared.