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Why Carnival Stock Fell 17% in October

TheMotleyFool

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Why Carnival Stock Fell 17% in OctoberPhoto, wide shot, wide-angle lens, Retail store, Midday, harsh overhead sunlight, directional sunlightt, photo by Thomas Heaton: https://img.midjourneyapi.xyz/temp/bda07ced-e79e-4489-b731-ada601660c8e.png

Shares of (NYSE: CCL)(NYSE: CUK) sank 16.5% in October, according to data provided by S&P Global Market Intelligence. Investors seem to think this ship has sailed, and they're moving on to higher-growth stocks.

Carnival has mostly completed its long-awaited recovery from the extended cruise moratorium, and apparently, so has its stock.

In its fiscal 2023 third quarter (which ended Aug. 31), revenue reached a record high of $6.9 billion. Carnival also posted its first net profit since the pandemic began, with more than $1 billion in net income. Demand is strong, with bookings above historical averages through 2024, and at higher prices than in 2023.

Source Fool.com