On Wednesday investors were closely watching the action in HomeAway, wondering if this stock was the next big thing.
Shares of the HomeAway surged way above their $27 IPO price in their first day of trade as investors gobbled up the vacation rental website, generating chatter about the company’s future potential.
According to published reports, the six-year-old Austin, Texas-based HomeAway rents out fully furnished, privately owned homes, condominiums and villas.
The company, which competes with Priceline.com, TripAdvisor and Wyndham Worldwide, has about 560,000 paid vacation rental home listings around the world.
HomeAway has never posted a profit since its inception and in the three months ended March 31, 2011, the company posted a net loss of $7.5 million on revenue of about $52 million.
What else must you know about this company before you place your bets? Find out from Chief Executive Brian Sharples in our exclusive conversation.
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