Why Polen Capital is Bullish on Facebook (FB), Bearish on Booking Holdings (BKNG) [Yahoo! Finance News]
Meta Platforms, Inc. - Class A (FB)
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Source: Yahoo! Finance News
Polen Capital Management, LLChereIn the said letter, Polen Capital spoke about Facebook Inc NASDAQ:FBBKNG"We also sold Booking Holdings and deployed the proceeds into Facebook. Booking was our smallest portfolio weighting because we had been monitoring the company’s slowing growth profile amid a maturing European hotel bookings market. The massive impact from COVID-19 and a lingering effect on global travel for at least some period of time added to our concerns. We determined that our remaining investment in Booking would be better deployed into Facebook. Facebook is trading at a similar valuation, has stronger competitive advantages although to be fair, Booking’s competitive advantages are likely strengthening during this period as well), has a much stronger growth profile, and should see far less impact on its business from COVID-19. In addition, Facebook has a pristine, cash-heavy balance sheet and, in our view, excellent long-term growth prospects. We expect that regulatory concer
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