Saudi Arabia just bought an 8% stake in Carnival after the cruise ship giant's stock plummeted this year
Business Insider -


Saudi Arabia's sovereign wealth fund just picked up an 8.2% stack in Carnival Corporation, the cruise line with more than 100 ships. 

Carnival's stock plunged 80% in the last year, and the company said last week it will lose money this year – though it's not yet sure how much.

Carnival raised billions through debt and equity offerings last week as it seeks to stay afloat while business has stopped amid the coronavirus. 

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