(NYSE: CCL) has had a banner year. With just a few weeks left in 2023, shares of the one-time meme superstar are up 127%. It's a much-awaited turnaround for the pandemic-plagued cruise line, and it might not be over. Despite the current market enthusiasm, investors may not realize that Carnival stock is actually still down 74% from highs it reached in 2018. There were clearly some headwinds prior to the pandemic, and closures at the beginning only exacerbated them.
Can Carnival get back to growth and surpass its previous high? Let's see if the stock is worth buying now.
Carnival's business has completed its rebound from the pandemic. Sales have surpassed pre-pandemic levels, and net income is very close.
Source Fool.com