Personally agree with point #6: I had stayed at a cheap Airbnb hosted by a local resident. During our stay our host went out with us for dinner, at which she kindly became our "tour guide", recommending (and translating) menus, giving us tips on where to visit, and providing local insights overall which I wouldn't have received had I used a hotel. Airbnb no doubt gives tourists costless spillovers to truly experience the local area. And I don't think any other service could have provided this.
Thanks for sharing this write-up. It was well researched and easy to read. The stock analysis can be accompanied by some color of the Septum's Dark pool scores. I am long ABNB ;)
Thank you for the fantastic article - I really enjoyed reading it. There are a few companies which I really like which have an valuation which me uncomfortable (e.g. SNOW). ABNB valuation also scares me. At 100B market cap its trading at P/S of about 26. (extract from Frobes "For perspective, Booking Holdings - among the most profitable online travel agents - traded at about 6x Revenue in 2019, while Expedia traded at 1.3x and Marriott - the largest hotel chain - was valued at about 2.4x sales prior to the pandemic. Moreover, Airbnb remains deeply loss-making, with Operating Margins standing at -16% in 2019, versus 35% for Booking and 7.5% for Expedia.."). You said that you started a position at 142-145USD range, and will add to ABNB if it drops below 140USD - so this would indicate to me that you do have a price in mind at which you think ABNB is fairly valued - would you mind to explain how you came to the price of 140 USD as being a good point for you to add? Thank you again for your great work!!
excellent! Boo
Personally agree with point #6: I had stayed at a cheap Airbnb hosted by a local resident. During our stay our host went out with us for dinner, at which she kindly became our "tour guide", recommending (and translating) menus, giving us tips on where to visit, and providing local insights overall which I wouldn't have received had I used a hotel. Airbnb no doubt gives tourists costless spillovers to truly experience the local area. And I don't think any other service could have provided this.
Thanks for sharing this write-up. It was well researched and easy to read. The stock analysis can be accompanied by some color of the Septum's Dark pool scores. I am long ABNB ;)
Now that stock has crossed 200, what will be a good entry point. I wanted to buy it around 160-170 range but it went up quickly
Great piece sir
Thank you for the fantastic article - I really enjoyed reading it. There are a few companies which I really like which have an valuation which me uncomfortable (e.g. SNOW). ABNB valuation also scares me. At 100B market cap its trading at P/S of about 26. (extract from Frobes "For perspective, Booking Holdings - among the most profitable online travel agents - traded at about 6x Revenue in 2019, while Expedia traded at 1.3x and Marriott - the largest hotel chain - was valued at about 2.4x sales prior to the pandemic. Moreover, Airbnb remains deeply loss-making, with Operating Margins standing at -16% in 2019, versus 35% for Booking and 7.5% for Expedia.."). You said that you started a position at 142-145USD range, and will add to ABNB if it drops below 140USD - so this would indicate to me that you do have a price in mind at which you think ABNB is fairly valued - would you mind to explain how you came to the price of 140 USD as being a good point for you to add? Thank you again for your great work!!
BIDU any thought ?
got few calls expire on feb 19
Where do you think stock price be in 3 yrs?