$ABNB sliding moat; slumpy housing market + recession incoming- NASDAQ:ABNB has a sliding moat problem
- slumpy housing market + recession incoming should lead to compressed multiple
- NASDAQ:ABNB used to be wall street poster child and commanded premium multiple but that moat is no longer here.
- NASDAQ:BKNG is the OG of travel booking.
- NASDAQ:ABNB is useful only when you are travelling in a big group where booking rooms in a hotel becomes expensive.
- Nothing unique about NASDAQ:ABNB , Verbo offers same thing and many hotel aggregator has started showing individual properties owned by owner.
- Regulation in cities in favour of long term tenants is welcomed as it will help in easing inflation for rental units which is always sticky.
- Technicals looks like a wedge which should break to the downside. Ideally, NASDAQ:ABNB should trade below $85 to look compelling investment.
- Otherwise avoid this stock