(NYSE: CCL)(NYSE: CUK) is back in business, and its stock returned to market-beater status in 2023. It ended the year up 130%, way ahead of the S 500's 24% gain. All systems are go, but can Carnival do a repeat in 2024? Probably not, because the size of the rebound has already been so large. But you might want to buy the stock anyway. Let's see why this is the most important thing to know if you're thinking about buying Carnival stock.

Carnival is the world's largest cruise operator, and it was a market-beating stock for years. It runs an efficient and popular business in a niche industry that targets an affluent clientele.

None of that mattered when a global pandemic caused travelers to push the pause button on cruises for several months. Carnival managed to keep its business operating by raising debt and equity when no sales were coming in. But it's way past that now.

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Source Fool.com