Now what?

 $AMC Entertainment (AMC.US)$ $Carnival (CCL.US)$ $Norwegian Cruise (NCLH.US)$ There is a high degree of uncertainty right now about the path of inflation and the economy. While it's still possible the Fed engineers a "soft landing," in which inflation cools without the economy going into a bad recession, that is highly uncertain. Also keep in mind, each of these companies has a significant European business, and Europe is in even more dire straits than the U.S.

Given the high uncertainty, investors should probably turn to companies with much better balance sheets and less discretionary exposure. No doubt, if things improve, these stocks could come roaring back; however, there is also the very real possibility these companies could go bankrupt, or at least dilute shareholders further. With so many high-quality companies down significantly in this market, these three don't seem worth the risk.