Why Carnival Shares Tumbled 25% in September
Shares of Carnival (NYSE: CCL)(NYSE: CUK) tumbled hard in September, dropping 25.7%, according to data from S&P Global Market Intelligence, as the ship seemed to sail on the hoped-for recovery in the cruise industry.
Most of the losses occurred at the very end of the month after Carnival's fiscal third-quarter results revealed inflation was taking a greater-than-expected toll on the cruise line's costs, as were supply chain issues and maintaining health and safety protocols on board its ships.
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Source Fool.com
