By now, the saga of the cruise industry is a familiar one. Cruise ships were stuck in port for much of the pandemic, leading to companies like Carnival (NYSE: CCL) taking on billions in debt and diluting shareholders to stay solvent through the crisis.

Now, in 2023, cruising is all the rage again. Demand is at record levels, but the stock of Carnival, which is the world's biggest cruise line, is still down significantly from its pre-pandemic levels, off 74% from where it stood in early 2020 before COVID wreaked havoc on the travel industry.

According to some definitions, we're already in a new bull market as the S 500 has climbed more than 20% from its bear-market bottom, and even after a pullback in September, Carnival looks to be in a good position to be a winner in the next bull market. Keep reading to see why.

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Source Fool.com