Visiting New York City? Your Airbnb listing could soon be coming with a mandatory roommate. Today, Local Law 18 goes into effect in NYC, which mandates that rentals under 30 days can’t have more than two paying guests and that the host must be present. Those wanting to list their property must register with the…
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Largest IPO of 2023 Incoming: Arm Wants to be Like Nvidia
Arm, one of the world’s most valuable semiconductor companies, is expected to go public on the Nasdaq next month — seeking a reported $60B-70B valuation. And this one might cost you an arm and maybe even both legs. This is the same company Nvidia (NASDAQ:NVDA) tried to buy in 2021 but was ultimately blocked by…
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American Airlines Goes After the Airfare Loophole Dividing the Travel Industry
Caught skiplagging? Drop your finger weapon and try to cooperate. This travel hack could get you in a bit of trouble. Airfare is finally getting cheaper after last summer’s record — with prices falling 19% in July from the previous year. But according to Nerdwallet, total travel costs are still 12% higher than in July…
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The Fast-Growing Experience Economy and The High Stakes of Luxury Adventures
The bucket list of the wealthy: Seeing the Titanic, traveling to space and walking on Mars. What else you gonna do with all that money? Recent events might have them thinking twice. The missing OceanGate vessel has highlighted the dangers of seeking adventures on the fringe of the earth — but also the fast-growing experience…
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Short Seller Bear Cave Attacks Airbnb; White Knight Comes to Its Defense
Airbnb is one of the few tech/consumer-focused businesses that has remained strong despite a slowing economy. Nearly 15 years after its founding, the $70B rental company continues to grow its sales and profits — but Airbnb’s also had its fair share of problems: Business: Guest horror stories, outrageous fees and competitive pressure from other rental…
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Word of caution in the travel sector
Travel demand has taken off — with travel companies Airbnb and Marriott reporting their strongest recovery since the start of COVID — jumping over 4.7% and 7.7%, respectively, yesterday. But direct competitor Expedia (NASDAQ:EXPE) hasn’t shared in their fortunes — falling 0.5% after reporting worse-than-expected earnings. Rising: Airbnb reported record nights booked in the previous…
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Travel stocks regains momentum as travel booking heats us
After years of lockdowns, not even excessive inflation and a raging war can keep us from traveling. Travel demand is rising and airlines are seeing record bookings — but travel stocks are struggling to take off. Travel bookings defy gravity Since Mar. 7, the US Global Jets ETF is back up 21% after a near…
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Travel stocks are off to a strong 2022 start
Travel stocks are back — with Airbnb (NASDAQ:ABNB) up 4% after hours from reporting earnings that exceeded expectations yesterday. What’s the big deal? In just two years, Airbnb went from weak — taking out $1B in debt to get through COVID — to strong: Reported its second consecutive profitable quarter — with a net income…
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COVID cases rise but investors look past their temporary impacts
20 months into COVID and infections are still surging globally. But this time, consumers are carrying on with their Thanksgiving plans and investors are optimistic about their returns. What’s the big deal? In the US, cases are rising in more than 30 states with the largest increases in the midwest and Northeast regions. Cases are…
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Travel stocks takes a breather – Is there still upside?
Would you give up sex for a year if it meant you could travel right now? According to Trivago, 40% of Americans would – but data shows it’s still too early. Despite a lack of travel, many travel stocks have surpassed their pre-pandemic share prices. Where will they go from here? Travel stocks are stuck…
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