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Carnival Corporation (CCL), headquartered in Miami with a market cap of $18.7 billion, is the world’s largest cruise operator. It leads the leisure travel industry, serving nearly half of global cruise guests, and operates through four segments: NAA Cruise Operations, Europe Cruise Operations, Cruise Support, and Tour and Other.
Shares of the cruise line operator have underperformed the broader market considerably over the past year. CCL has plunged 12.4% over this time frame, while the S&P 500 Index ($SPX) has surged 19%. Moreover, in 2024, CCL stock is down 15%, while the SPX is up 14.2% over the same period.