Is Booking Holdings Stock a Buy?
In just two months, Booking Holdings (NASDAQ: BKNG) has experienced one of the toughest challenges in the history of the company. The COVID-19 pandemic has upended life as we know it, causing unprecedented border closures, curbs on traveling, and the shutdown of shopping malls, factories, and food outlets. Many countries are still struggling to contain the coronavirus, and the tragedy is both a human one and an economic one.
Booking's share price has plunged 33% year to date, and it seems the fall was justified. The company's first-quarter 2020 earnings report showed gross travel bookings plunged 51% year over year, while room nights booked (for hotels) declined by 43% over the same period.
Leisure travel is a discretionary expense for many. The question now is whether Booking Holdings stock remains a buy despite the strong headwinds and lingering uncertainty.
Source Fool.com
