Carnival Corp. (NYSE: CCL) is no longer a meme stock. It's up 65% over the past year, and its business is back to booming. Now that it's rebounded, should investors move on the next big thing? Not so fast. Carnival has a powerful leadership position as the largest cruise operator in the world, and it might deserve a spot in your portfolio. Let's see where it could be five years from now and whether or not you should buy it.

Carnival demonstrated an incredible recovery last year, as expected. Now it's keeping up its solid performance as it fields high demand, with record revenue and improving profitability.

The 2024 fiscal first-quarter (ended Feb. 29) results surpassed expectations across several metrics. Revenue was a record $5.4 billion, 23% higher than last year. It had record first-quarter deposits of $7 billion, and generally accepted accounting principles (GAAP) net loss improved from $693 million last year to $214 million this year.

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Source Fool.com