Selina Plunges on Second Trading Day
Skift Take
- Pebblebrook Hotel Trust reported sold 3Q22 earnings, but since they give monthly updates and pre-announced, there was no surprise.
- While lodging stocks were higher, the action in Selina on Friday was just as ridiculous as on Thursday but in the other direction.
- While Travel + Leisure’s stock price rebounded a little bit after Thursday’s earnings-induced decline, Credit Suisse lowered the boom on them.
The DJIA surged 829 points on Friday while Nasdaq was up 310, the S&P 500 rose 94 points and the 10-year treasury yield was up .07 to 4.01%. While lodging stocks were higher, the action in Selina on Friday was just as ridiculous as on Thursday but in the other direction. SLNA plunged -63% on Friday after Thursday’s moonshot on its first day of trading.
Pebblebrook Hotel Trust reported sold 3Q22 earnings, but since they give monthly updates and pre-announced, there was no surprise. At first analysts were concerned as PEB gave lower 4Q22 guidance but that seemed to be offset by a couple of things. First, the lower guidance was mostly due to Hurricane Ian impacts. PEB also said they are looking for a boost from property tax assessments on some of its hotels and they expect “very significant wins.”
While Travel + Leisure’s stock price rebounded a little bit after Thursday’s earnings
