Is Booking Holdings Stock in for a Bumpy Landing in June?
Investors with skin in the travel industry game are hurting this year. The best performing of the three cruise line stocks is trading 68% below its January highs. The top airline stock has shed more than half of its peak value. A car rental bellwether just filed for bankruptcy protection over the weekend.
Online travel specialists aren't tethered to a single brand or even industry niche, but those models are naturally taking it on the chin. Expedia (NASDAQ: EXPE) -- the world's second-largest online travel portal with $11.7 billion in trailing-12-month revenue -- entered the holiday weekend trading 46% below its previous high. Smaller players have been faring even worse since the COVID-19 pandemic slammed the brakes on most travel plans. Travel reviews leader TripAdivsor (NASDAQ: TRIP) and hotel aggregator Trivago (NASDAQ: TRVG) are down 61% and 66%, respectively, from their peak levels.
Industry leader Booking Holdings (NASDAQ: BKNG) seems to be defying gravity here. The stock has already clawed back through most of its pandemic-related sell-off. Booking heads into the abridged trading week just 22% below its January highs. With its near-term prospects severely challenged, it doesn't make sense for Booking to be bucking the trend.
Source Fool.com
