Skift Take
Shares of the booking site dropped last week following news that Google missed its earnings forecast, but traders won’t know whether PCLN will fall short of expectations until sometime in November.
Momentum is fickle. Investors in Google (GOOG) and Chipotle (CMG) both learned that the hard way after each company reported results that missed forecasts on Thursday.
Now investors are trying to figure out what other Wall Street darlings could be ripe for a fall. Traders on StockTwits zeroed in on Priceline (PCLN). And shares of the online travel leader were down more than 4% Friday following a nearly 3% drop Thursday. Google’s earnings missmay be one reason Priceline was pulling back.
Pricleine is trading at more than $560 a share. For many average investors, there is a bit of sticker shock even though the valuation of many of these companies are actually attractive based on earnings.
The Daily Newsletter
Our daily coverage of the global travel industry. Written by editors and analysts from across Skift’s brands.
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