Richard Glasier, a director at Carnival Corp (CCL), recently picked up 10,000 shares. The purchase came to just over $140,000, and increased the director’s stake by 23 percent.
This marks the second insider buy of 2020, following a 1.25 million share buy from another director back in early April. Insiders were last sellers in 2019, at prices 70-75 percent higher than where shares currently trade.
Shares of the cruise line company have doubled off their March lows. They are still down two-thirds over the past year.
- [URGENT] Google Just Poured $4 Billion Into THIS...
The world’s most successful tech industry giants are all clamoring to get their hands on a new piece of technology.
It’s NOT bitcoin.
It’s NOT 5G.
And it’s NOT cannabis.
It could be bigger than all of those. Because if history is any indicator, you could be looking down the barrel of 5,000% profits... or even more.
Companies all over the world are funneling as much money as they can into what Bill Gates calls, “the holy grail” of modern technology.
The industry largely remains idled, with proposed openings that continue to be pushed back. Over the past six months, shares have had a number of mini-rallies from the low to the high teens. Currently, shares are on the low end of the range.
Action to take: Based on the insider buy and chart action over the past few months, shares could deliver a 15-20 percent return before the end of the year in another mini-rally.
The January 2021 $15 calls are the at-the-money trade here, and are likely to move dollar-for-dollar higher with shares. Currently trading for just over $2, a rally in the shares to $19 would allow the options to double. Traders should look for a quick profit before year-end, before the time premium on the option starts to reach the worst of its decline.