Carnival Corp.’s (CCL) shares climbed 21% after Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), on Monday disclosed an 8.2% stake in coronavirus-hit Carnival Corp.PIF made the offering for Carnival’s 43.5 million shares worth about $369.3 million on March 26, according to the SEC filing. The investment makes PIF the second-largest investor in the world’s biggest cruise line.Since the start of the year, Carnival has seen its shares lose more than three-quarters of their value as the coronavirus pandemic has forced cruise ship companies to halt operations and suspend cruises.Wall Street analysts take a cautious stance on Carnival …read more
Source:: Yahoo Finance
