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Thread: Significant Carnival Insider Purchase

  1. #1

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    Default Significant Carnival Insider Purchase

    I copied this from a Yahoo article, but my brother in law told me about it last week:

    Conventional wisdom says that insiders and 10% owners really only buy shares of a company for one reason -- they believe the stock price will rise and they want to profit from it. So insider buying can be an encouraging signal for potential investors, particularly during periods of uncertainty. Insiders continued to take advantage of fallen share prices last week. Here are some of the most noteworthy insider purchases reported in the past week. A director took advantage of a common stock offering to add 1.25 million Carnival Corp (NYSE: CCL) shares. At a share price of $8.00, that cost the director $10.00 million. The stock ended last week's trading at $12.42 per share, which is up 7% or so in the past week but still over 75% lower than at the beginning of the year.


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  3. #2

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    Default Re: Significant Carnival Insider Purchase

    I saw that one. Very hard not to take notice of this kind of bet. Must be nice to have $10 million laying around to throw into one individual stock.

    He must be very confident they will beat the lawsuits that are sure to come. Maybe there is something hidden in the boarding waiver's fine print.
    Carnival Executives Knew They Had a Virus Problem, But Kept the Party Going

    More than 1,500 people on the company’s cruise ships have been diagnosed with Covid-19, and dozens have died.
    https://www.bloomberg.com/features/2...e-coronavirus/

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  5. #3

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    Default Re: Significant Carnival Insider Purchase

    I've been on 7 or 8 cruises, but honestly, I don't read all of that stuff. I just sign whatever I have to in order to board, but I'm sure there would be some kind of release from liability.

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  7. #4

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    Default Re: Significant Carnival Insider Purchase

    That big insider buy remains a very profitable one and I thought CCL would be higher by now.

    Hopefully cruise lines get going again as Caribbean cruise season begins during northern hemisphere winter.

    The CDC is currently enforcing a no-sail order until at least the end of this month, which prohibits any cruise ships that are able to carry more than 250 passengers from setting sail.
    https://www.businessinsider.com/carn...-report-2020-9

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  9. #5

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    Default Re: Significant Carnival Insider Purchase

    Weisenberger sold off half that position this week. Bought at $8, sold at $27-28. He still has 854,000 shares, but did buy 1.2M shares back in April 2020. Probably had to wait until one year lockup period was up, and he sure didn't waste time.

    SEC FORM 4

    Question going forward is, how much of the recovery is already baked in?

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