Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Coming off of its strongest year since inception, Airbnb Inc (NASDAQ:ABNB) is widening its lead on the competition. Airbnb co-founder and CEO Brian Chesky is playing a big role, marketing the platform's long-term stay potential by jumping from home to home, living on Airbnb properties.
Competitor Booking Holdings Inc (NASDAQ:BKNG) doesn't have that same luxury, according to a Wall Street Journal report. The company is spending heavily on marketing and diversification efforts. Booking CEO Glenn Fogel is making longer-term strategic investments, but the report suggests it's going to take a while to play out.
See Also: Looking At Booking Holdings's Recent Whale Trades
Although the company is trying to ramp up its U.S. business, 87% of Booking's revenue was generated outside the U.S. last year.
The European travel market has been hit with COVID-19 variants and rising geopolitical tensions. Russia’s travel restrictions are expected to have a significant impact on the travel industry and Booking looks the most vulnerable.
At about 7.8 times sales, Booking appears discounted to Airbnb, trading at about 15 times sales, according to data from Benzinga Pro. However, rival Expedia Group Inc (NASDAQ:EXPE) is trading at just 3.2 times sales.
Although Europe, the Middle East and Africa represented 31% of Airbnb's gross booking value in 2021, Booking's high international exposure is something investors want to avoid ... for now. The report suggests that those thinking about buying Booking shares should wait.
ABNB, BKNG Price Action: At publication time, Airbnb was up 2.13% at $154.20 and Booking was up 3.96% at $2,153.99.
Photo: JoshuaWoroniecki from Pixabay.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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