Carnival Corporation & plc (NYSE:CCL) is one of the Jim Cramer Says Oil Can Get Cheaper & Discusses These 12 Stocks .
Carnival Corporation & plc (NYSE:CCL) is one of the largest cruise ship operators in America. The firm’s shares have gained a modest 1.8% year-to-date after having lost 33% by early April. Carnival Corporation & plc (NYSE:CCL) experienced some bullishness early in the year when strong consumer spending for its cruises led to strong bookings. However, in what Cramer would later dub as the ‘end of the travel bull market,’ the stock lost steam and dropped. In his previous comments about Carnival Corporation & plc (NYSE:CCL), Cramer also pointed out at news reports of tax exemptions for the cruise segment being removed as a potential contributor to the lackluster share price performance. Here are his latest thoughts about Carnival Corporation & plc (NYSE:CCL):
“Carnival’s up, uh, ten percent almost. No I guess what I’m saying is that the gloom does not match the stock prices. There’s the gloom that we feel, the worry that is the economy is falling apart, if you look at these stocks, you’re making so much money. We’re making so much money. Like we should be more positive.
“[When Carl pointed out at the booking data for Carnival showing the booking curve being the farthest out its ever been] Well what matters to me is that the Fed looks like it’s going to have to cut. Because the mortgage rates are too high. And we know that the autos are gonna get hurt.”
A luxurious cruise ship sailing the deep blue sea, sun glistening off its decks.
Cramer discussed Carnival Corporation & plc (NYSE:CCL) and the tax exemptions earlier this year. Here is what he said:
“Kind of shocking to say, one of the greatest groups in this market has been the cruise lines. It has just become, remarkable comeback, and this is the long on money, short on time. Meaning, let’s find the bar again and travel. . . These all got clocked. Why? Because Howard Lutnick, the new Commerce Secretary said that President Trump might wanna be able to get rid of the, their inability to pay tax. They don’t pay tax. Again, what I keep referring to is, Congress passed an actual codified section . . . saying that their income is not taxable! So you know, you need to get Congress to check off. Now, Citi in its note does say to make these changes we believe President Trump would need to focus on the cruise industry. But I’m implying that if the President does focus, then it gets rid of Congress. Now, look, maybe I’m outmoded. I have been focused on Congress cause that’s the way our country has, since, I don’t know, like Jefferson. But everything’s new! This needs Congressional approval. I don’t know how else he can do it!”
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Disclosure: None. This article is originally published at Insider Monkey.
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