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Motley Fool
Why Carnival Stock Dropped Again Today
For the third day in a row, Carnival Corp. (NYSE: CCL) stock is sinking — down 3% as of 1 p.m. EDT. Consider: As my fellow Fool Travis Hoium explained Tuesday, investors are upset with Carnival’s decision to buy back $2 billion worth of its 11.5% senior secured notes due 2023. Now, on the one hand, that move will cut into the $9.3 billion in cash Carnival had on hand to carry it through the rest of the pandemic.
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