Just a quick bookkeeping post.
In my Quick Pick video Update just posted, I noted that I would be buying shares of travel booking global marketshare leader (or co-leader) Booking Holdings (BKNG) tomorrow, Friday, April 22 in my Jubak Picks Portfolio. I’m setting an initial target price of $2,800 a share. (The stock was trading at $2230.45 at 3:30 p.m. on April 21.) Yes, $2230 is a high price for a single share. If your broker allows the purchase of partial shares, this might be a good time to use that option. The high share price also makes Booking Holdings a candidate for a split given that splitting high-priced shares seems to be in vogue right now.
I’ve explained the logic of this pick in the video:
The recent good news on summer bookings from Delta, American, and United Airlines says that travel continues a strong rebound from depressed Pandemic levels. With 30% of the global online travel booking market (equal to Expedia’s (EXPE) Booking Holdings will see revenue climb with that summer uptick in travel (without the dangers of rising jet fuel prices.) Plus I like the company’s exposure to the “bargain” side of the online booking market through Hotels.com and Priceline.com.