This week has not been a fun time to own shares of Carnival (NYSE: CCL) (NYSE: CUK). Including today's 3.4% slide through 1 p.m. ET, Carnival stock has lost more than 10% of its value since the week began. On Tuesday, you see, investment banking heavyweight J.P. Morgan waded back into the cruise space with a trio of stock initiations.
Down 54% year to date, Carnival (NYSE: CCL) stock has dropped substantially in 2022. And while that might garner the attention of bargain-hungry investors, it may pay to look before you leap at the shares.
A new critique from an analyst made for an uninspiring Tuesday on the market as far as Carnival (NYSE: CCL) (NYSE: CUK) stock was concerned. JPMorgan Chase launched coverage of three top cruise stocks, a lineup that includes Royal Caribbean and Norwegian Cruise Lines. In doing so, prognosticator Daniel Adam tagged only one with his bank's equivalent of a buy recommendation -- and that wasn't Carnival.