Leading online travel site Priceline.com (NASDAQ: PCLN) is perhaps best known for its pitchman, pop culture icon William Shatner. But to in-the-know investors, this stock is more known for booking big profits.
Now you might think that with the country in a recession, online travel stocks wouldn't be doing very well. But actually, the opposite is true.
According to a recent article in Investor's Business Daily, many corporate travel managers have been forced to cut the cost of basic travel expenses due to the recession. "Firms are telling execs to move their seats from the front to the back of the plane -- and to find budget-class hotel rooms." Bingo!
You see, during tough economic times, both corporations and consumers look to save every dime, and one way to do this is to book flights and hotels using online travel sites like Priceline.com.
I expect the company to keep on booking solid earnings and the shares to keep flying higher.
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Reader Comments (Page 1 of 1)
10-04-2009 @ 12:17PM
S said...
Turning to Investor's Business Daily is like asking Homer Simpson for dieting tips. Consumers should invest in Family Dollar, EZCorp, and United Rentals. Corporations should invest in Procter & Gamble, Walmart, and Home Depot. Have a nice day.