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Priceline.com (PCLN) allows buyers to name their own price for everything from airline tickets to rental cars to cruises. With its patented business model, the company generates virtually all of its sales from travel-related services. In the case of airline tickets and hotel reservations, Priceline.com keeps the difference between the price paid by the individual and what Priceline.com paid for the ticket or hotel room.
You may not think that travel spending is very high right now, but the bottom line is that value-conscious consumers really love Priceline's ability to "haggle" on prices. This has allowed the website to become an oasis for cash-strapped consumers and generate huge numbers even during the recession.
PCLN is currently trading around $220, but I would be confident buying shares of this stock as long as they're below $249.
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At the time of publication, Louis Navellier owned shares of PCLN in personal or client portfolios.
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