The tide is high but I'm holdin' on... Royal Caribbean stock surged 18% over the week on word of "remarkable" demand for 2021 cruises. Royal has been anchored since March, when COVID outbreaks suspended its global cruise operations. Now execs say pent-up demand led to impressive 2021 bookings, despite "literally no marketing efforts" (and a few PR nightmares). Royal lost $1.6B last quarter, but just snagged a fresh $700M loan to float until 2021.
Grab the pizza cutter, Elon... Tesla soared 14% after announcing its 1st-ever stock split. On August 28th, each Tesla share will split into 5: if you own 1 share trading at $1.5K, you'll suddenly have 5 worth $300. Companies split stock to make it cheaper for regular investors (like us) to buy shares — but splits don't change a company's overall value. The Tesla pizza pie will be cut into smaller slices, but it’ll still be the same amount of pizza. Splits aren't as impactful now that more brokerages offer fractional shares, making Tesla's stock boost after the news puzzling (classic Tesla).