Presidents Day Sale: 12 Unbeatable Trades at Sale Prices
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Expedia (EXPE)
Window-Shopping Travelers Find Other Ways to Go
By Michael Shulman
The pick is Expedia (EXPE) but keep reading. However, don’t buy it -- short it, by buying some puts.
Travel has fallen like a stone and will continue to do so, according to our surveys at ChangeWave. People are going to drive this summer, camp out, hang out with family. And many people, like me, check prices on Expedia and then go directly to the hotel or airline Web site where it is easier to cancel and there are no or smaller penalty fees, a big consideration in this economy.
Expedia is very dependent on serious travel and whose growth was to be focused overseas. Not any more.
Look at the EXPE puts and LEAPs for January of next year.
