Carnival Stock Is Down 85% From Its High. Time to Buy?
Carnival (NYSE: CCL) has become one of the more intriguing stocks of the 2020s. Saying it has sailed in rough waters is a gross understatement. The pandemic left the company without significant revenue for more than one year, leading to pain for the company and significant volatility for Carnival stock.
But though operations are finally normalizing, Carnival stock has not benefited, as shareholders see the reality of its challenges more clearly. The question for investors now is whether that lower stock price signals a buying opportunity or a sign to continue avoiding Carnival stock.
As the cruise industry shut down during the pandemic, investors turned on Carnival stock, causing it to fall by nearly 80% in the first four months of 2020. Optimism about reopenings and a positive bull market helped bring investors back to the stock. The share price exceeded $30 per share in May 2021, right before operations resumed in July of that year.
Source Fool.com