In August, I wrote an article “eDreams: A Multi-Bagger That is hiding in Plain Sight.” Given that they just reported their second quarter earnings, I thought it was worth an update given there was some incremental guidance given during the report. The quick summary is it’s still a multi-bagger hiding in plain sight. Now, let’s get to why.
Solid update. Have been reading your updates on this. Only concern I have is; are they front-running long-term growth by doing the shift to subscription? I.e., sacrificing long term growth for short term gains. Interestingly the Bookings-Etraveli acqusition got blocked by EC - they recently (Etraveli) relevered their balance sheet (owned by CVC) and shared some interesting points about the busienss in the process. They Seem to be taking share pretty fast.. what are your thoughts on competition and whether they are sacrificing long term growth for short term gain?