Can Coronavirus Save Campbell Soup from Oblivion and Irrelevance? — Market Mad House
Strangely, coronavirus could save the Campbell Soup Company (NYSE: CPB) from oblivion and irrelevance.
Campbell’s claims coronavirus is increasing demand for its products. However, Campbell borrowed $300 million in revolving credit to cover COVID-19 related costs, MarketWatch . Moreover, MarketWatch claims Campbell’s has accumulated $1.15 billion worth of commercial paper.
Mr. Market believes that coronavirus is good for Campbell Soup. To explain, Campbell shares…