Booking Holdings (formerly Priceline) Message Board

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Technology Stocks : Booking Holdings (formerly Priceline)

BKNG 4,874

+2.3%

3:59 PM EST

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To: Gerald Walls who wrote (1289)	5/13/1999 2:51:00 PM
From: Robert Rose	Read Replies (1) of 2743

<I can't make myself buy this stock because of this. At today's price its market cap is 1/20th of MSFTs according to Yahoo. Nuts.> BAM, do you think such a valuation is or can be justified at this time? < I believe that their patents will be successfully challenged and either overturned or restricted to the point where they will only have the "first ones here" advantage. Then again, maybe I'm wrong. Maybe I'll tell my kids someday that I had 100 shares at the IPO and they'd be 10,000 shares today. > Look at ebay. They have no patents, but so far their "first ones here advantage" is holding up VERY well to the competition. In ebay's case, critical mass in addition to brand seems to contribute. In pcln's case, critical mass appears less important, but brand is very important. My view right now is that pcln is building brand the way amzn is building brand - by providing a top-notch service to its customers. pcln however is still just beginning that process. I am coming to believe that we ain't seen nothin' yet. As has been said, pcln's model is endlessly extensible and scalable. If they keep doing as much right as they have done so far, the sky is the limit. So then it comes down to how much faith you have in pcln's management to exploit this incredible opportunity. From what I have seen so far, my own faith grows the more I learn about what they are doing. My advice: depending on your goals and needs, you owe it to yourself to invest a small percentage of your portfolio in this stock. I have about 8% myself. Rob

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