Carnival Borrows More Money 💵

And, the progress of equity crowdfunding in 2025.

July 08, 2025

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Today is Tuesday, July 8, 2025.

The Early Bird Index today is 86.55

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Carnival Borrows More Money 💵

Carnival's $CCL ( ▼ 2.17% ) strong 2025 hit a bit of a snag when the cruise operator announced Monday it was pricing $3 billion worth of senior notes, which caused the stock to dip 0.24% in after-hours trading.

Details: Carnival is borrowing $3 billion by selling bonds, and it's using that money to pay off older, more restrictive, and expensive loans.

Stock Price: Shares of Carnival are up 17% this year, with most of the gain occurring in the second quarter.

Zooming Out: Carnival is outperforming rival Norwegian Cruise Line $NCLH ( ▼ 2.41% ) this year, which is down 17%. However, it lags behind Royal Caribbean Cruises $RCL ( ▼ 1.68% ) , which is up 43% in 2025.

Early Bird’s Nest Egg Gains: Carnival currently carries a substantial amount of debt, though it has been actively managing and reducing it in recent years.

  • As of May, Carnival reported a total debt of about $27 billion.

  • Carnival’s high debt is primarily the result of emergency borrowing during the pandemic to keep the company afloat, combined with the capital-intensive nature of the cruise industry.

Final Thoughts: We’ll hear more about Carnival’s debt when it reports earnings in a few months.

Notables

Notable Earnings Today:  Penguin Solutions (Nasdaq: PENG), AEHR Test Systems (Nasdaq: AEHR), Kura Sushi USA (Nasdaq: KRUS), Saratoga Investment (NYSE: SAR).

Notable IPOs Today: Rich Sparkle Holdings Limited Ordinary Shares (Nasdaq: ANPA), Masonglory Limited Ordinary Shares (Nasdaq: MSGY), Ten-League International Holdings Limited Ordinary Shares (Nasdaq: TLIH).

Notable Equity Crowdfunding Campaigns Ending Today: Vegetable + Butcher (Wefunder), Majani (Honeycomb).

Notable Economic Events Today: NY Fed 1-Year Consumer Inflation Expectations (11:00 a.m. ET), Consumer Credit (3:00 p.m. ET), API Weekly Crude Oil Stock (4:30 p.m. ET).

Equity Crowdfunding's 2025 Progress

Let's take a look at the progress made in equity crowdfunding investing in 2025.

Definition: Equity crowdfunding allows average people to invest in startups and receive equity and/or income.

Big Winner: In the first half of 2025, startups with strong environmental, social, and governance (ESG) missions have outperformed peers in equity crowdfunding.

Cross-Border Milestones: In April 2025, Dacxi Chain completed the first cross-border equity crowdfunding pilot deal between two EU-based platforms. 

Powering the Story: The total value in equity crowdfunding decreased from $17.1 billion at the end of 2024 to about $11 billion in June 2025, according to Kingscrowd.

Final Thoughts: While equity crowdfunding can be a nice way to diversify a portfolio, it carries risks because many startups fail.

Dogecoin Falls Amid Weaker Crypto Market

There’s negative sentiment in the cryptocurrency market right now, and Dogecoin $DOGE.X ( ▼ 1.14% ) had a bad Monday with a decline in price of over 4%.

Final Thoughts: Dogecoin is down 46% this year.

Prime Day? More Like Prime Week: Amazon Prime Day Is Bigger Than Ever. What It Means for the Stock. (Barron’s)

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The contents of Early Bird are intended for informational and entertainment purposes only. They do not constitute trade or investment recommendations and they are not financial or legal advice. Readers are encouraged to consult licensed professionals for personalized guidance regarding their financial or legal situations.