The past few years have been tough on Carnival Corp. (NYSE: CCL). The cruise line operator's revenue plunged in 2020 and 2021 as global travel ground to a halt during the pandemic, and it was forced to take on a lot more debt to stay solvent. Its business recovered in 2022 and 2023 as the pandemic diminished and people started traveling again, but its stock has still lost about a quarter of its value over the past three years.

Could Carnival's stock keep climbing and hit new highs over the next three years? Let's review its previous slowdown, its recent recovery, and its expectations for the future to decide.

Image source: Carnival Corp.

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Source Fool.com