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Down 62% in This Bear Market, Can Carnival Stock Recover in 2023?

TheMotleyFool

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Down 62% in This Bear Market, Can Carnival Stock Recover in 2023?: https://g.foolcdn.com/editorial/images/715893/cruise-ship-off-coast-of-alaska.jpg

Shares of Carnival (NYSE: CCL) have tumbled over the last year due largely to a combination of a sluggish recovery from the pandemic, wide losses, high debt, and macroeconomic headwinds.

According to data from S&P Global Market Intelligence, the stock has fallen by 62% since the S&P 500 peaked on Jan. 3, 2022. As the chart below illustrates, the stock fell sharply last spring and has stayed down since then.