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What's Good For France And Europe Is Great For Priceline

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What's Good For France And Europe Is Great For Priceline
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Priceline Group Inc (NASDAQ: PCLN) soared to all-time highs Monday on a 2.6-percent spike, coincidentally timed with — or perhaps on the tailwind of — the history-shaping French election.

With National Front candidate Marine Le Pen advocating a Brexit-like break from the European Union and Emmanuel Macron pushing for continued integration, France’s participation in the international body appears to hinge on the May 7 election.

And the results could have vast implications for vacationers.

Presently, border-crossing within the E.U. is relatively simple, as commission regulations allow travelers to move without passports. An E.U. exit may complicate visits to and from France.

Additionally, Le Pen champions a strengthened border control echoing the policy of U.S. President Donald Trump, so her victory could limit the ability of global travelers to picnic beneath the Eiffel Tower and wander the Louvre.

Perhaps some regard the election leadup a last-minute vacation opportunity and, subsequently, a Priceline investment opportunity.

The State Of Europe

Or it’s possible that the booking site is riding a wave of changes on the greater European continent.

Following Cantor Fitzgerald’s report citing increased European lodging demand in the final quarter of 2016, Oppenheimer acknowledged the capacity for continental expansion with the European Union’s potential ruling to heighten hotel competition, a factor that positions Priceline for significant growth in rate-comparison delivery.

With exposure in more than 200 countries representing more than 40 languages, the company is the world’s largest online travel agency and maintains a significant portion of its bookings outside the United States.

Priceline hit its previous all-time high March 28, when its value crept above $1,798.75 and closed at $1,789.20, but Monday’s activity pushed the record to new heights. The stock opened Tuesday at $1,807.78 and was trading around $1,804.80 at the time of publication.

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Posted-In: News Emerging Markets Eurozone Politics Forex Travel Events Global Best of Benzinga

 

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