Ship out of luck... Carnival stock plunged 8% Friday after cruise lines suspended all trips out of US ports until September 15th — Carnival had 8 set for August 1st (now canceled). Earlier in the week, Carnival reported a record $4.4B quarterly loss and said it would burn $650M per month for the rest of 2020. The stock actually jumped after that because investors focused on early bookings for 2021, which hit pre-COVID levels.
Truth hertz, needed something... less bankrupt. A month ago, Hertz filed for bankruptcy with $19B in debt. Over the next two weeks, Hertz stock confoundingly soared 887% as investors piled into shares of the rental car company. So Hertz announced plans to sell $500M in new shares, which it warned are most likely worthless (but would help it raise cash to pay off creditors). Then the SEC (aka the US' chief stock market regulator) questioned the bizarre move. That SEC side-eye led Hertz to cancel the controversial sale.