In the stock market, nothing speaks louder than numbers, and this week the traveling sector is almost deafening.
Expedia Group Inc. (NASDAQ: EXPE), the prized largest position of Michael Burry’s investment portfolio, has soared an additional 10% on November 7, according to a report by Michael Burry Stock Tracker account on X (Twitter). Remarkably, this move totaled a 25% increase over the past week.
Notably, Michael Burry, known for his lucrative ‘Big Short’ against the housing market in 2008, featured in a movie called “The Big Short” in 2015.
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At the time of publication, EXPE is trading at $118.05 per share, with 5.79% gains in the last 24 hours.
Expedia fundamental analysis and Michael Burry’s positioning
The ascent of Expedia’s shares is attributed to a bullish announcement from the company: a colossal $5 billion stock buyback plan coupled with the report of record revenues.
This tailwind comes just in time as Expedia has recently been spotlighted as a new addition to Burry’s holdings in his Q2 filings revealed to the public.
Interestingly, this company’s performance and fundamental analysis are a strong indicator of the resilience of the travel industry, even in the face of relentless inflation and economic uncertainty.
In its latest report, Expedia Group Inc. witnessed a revenue upswing of 9% to $3.93 billion. Gross bookings were not far behind, ascending 7% to reach $25.7 billion. As for EBITDA, it showed robust growth of 1.1% year-over-year, translating into a 31% expansion.
Since Michael Burry’s positioning on August 14th, EXPE stocks have impressively climbed more than 5%, reflecting investors’ renewed confidence in the travel industry and in Burry’s strategic investment choices.
Market enthusiasts and followers of Burry’s famed investing acumen are now eagerly awaiting his upcoming filing. The anticipated document will shed light on any recent adjustments the investor might have made to his stock exposures after the observed volatility.
Expedia’s performance is a beacon for the travel sector, projecting a relentless march forward despite the cost-of-living crunch. In the coming days, all eyes will be on one of the most famous traders in the world’s next move and whether he will continue to bank on the travel industry’s robust momentum.
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Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
