If You Invested $1,000 In Carnival At Its Pandemic Low, Here's How Much You'd Have Now

Investors who bought stocks during the COVID-19 market crash in 2020 have generally experienced some big gains in the past two years. But there is no question some big-name stocks performed better than others since the pandemic bottom.

Carnival’s Big Run: One company that has been a decent investment in the past two years has been cruise line giant Carnival Corp CCL.

Unfortunately, after a solid decade of returns, Carnival experienced a near worst-case scenario to kick off the 2020s. The global COVID-19 outbreak shut down all of Carnival’s operations in March 2020, and its share price understandably tanked.

At the beginning of 2020, Carnival shares were trading around $51. By the beginning of March, the stock had dropped below $35 after news of the virus spreading in China prompted concerns about a U.S. pandemic. On March 12, Carnival shares plummeted from $21.75 to $14.97 at the close. A day later, the company announced it would be suspending all cruises for 30 days.

The stock broke below $10 for the first time on March 18 and ultimately bottomed at $7.80 in early April.

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Carnival In 2022, Beyond: Since the 2020 market bottom, Carnival shares have recovered back to $19.48, but they still haven't made it back to their pre-pandemic highs.

Investors who bought Carnival on the day it hit its pandemic low and held on have generated a sizable return on their investment. In fact, $1,000 in Carnival stock bought on April 2, 2020, would be worth about $2,403 today.

Looking ahead, analysts are expecting Carnival’s stock to trend higher in the next 12 months. The average price target among the 17 analysts covering the stock is $23.23, suggesting 19.1% upside from current levels.