(NYSE: CCL) stock became a meme stock king early in the pandemic when it had no revenue, borrowed loads of cash to survive, and retail investors were betting on its lifespan.

Now that period has passed, and Carnival is demonstrating an incredible rebound. It gave investors news to cheer about this week, but its stock tanked after the report. What's going on here? And can you still buy?

When cruise lines were completely shut down for several months, the only way to save them from going under was to borrow massive sums to maintain minimal operation. Carnival went from a top global company, the largest cruise operator in the world, to a non-functioning entity with no revenue coming in. 

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Source Fool.com