Carnival shares shed 23% on ballooning costs, dragging cruise stocks lower
Shares of Carnival fell below their pandemic lows Friday after the cruising company posted third-quarter earnings that revealed higher costs associated with inflation, supply chain disruptions and the maintenance of health and safety protocols.

Shares of Carnival shed 23% during the session. The stock closed at a new 52-week low of $7.03, below its pandemic plunge lows of April 2020, when shares traded around $7.80 intraday.

Friday's losses knock about $2.5 billion off Carnival's market value. Shares of Norwegian and Royal Caribbean also fell Friday, down 18% and 13%, respectively.