Down 67%, Is Carnival Stock Finally a Buy?

Down 67%, Is Carnival Stock Finally a Buy?

Starting in 2020, cruise ships were the site of massive COVID-19 outbreaks. With its cruise ships parked and annual revenue falling to as low as $1.9 billion in 2021 (from $20.8 billion in 2019), Carnival sold 19 ships, tapped debt markets, and turned to equity dilution to raise the capital it needed to survive the crisis.