Cruise Stocks Plummet 6% Yesterday... Carnival Surges 8% in Just One Day

Carnival Corporation & plc (NYSE: CCL) shares jumped 8.20% on June 11, closing at $28.12 on the New York Stock Exchange. The company’s market capitalization rose to approximately $34.8 billion (around ₩48 trillion), with an additional $3.1 billion (about ₩4.3 trillion) added in a single day. Trading volume reached 16.36 million shares.

After plunging about 6.3% on June 10, the stock rebounded as bargain hunters stepped in and optimism over earnings grew. Carnival announced record first-quarter operating results, a return to profitability, debt reduction and refinancing measures, and a share repurchase plan. Bank of America also maintained its “Buy” rating on CCL with a $45 price target despite persistent fuel cost pressures.

As the world’s largest cruise operator, Carnival manages well-known brands such as Carnival Cruise Line, Princess Cruises, Holland America, and Cunard, offering leisure cruises across North America, Europe, and Asia. Although it faced challenges from pandemic-era debt, recent record bookings and advance payments—and leverage approaching investment-grade levels—have underscored debt reduction and normalized profitability as the company’s key investment story.