AllPennyStocks.com Could This Stock Be The Next Big Mover In The Short-Term Rental ...

Could This Stock Be The Next Big Mover In The Short-Term Rental Market?

Could This Stock Be The Next Big Mover In The Short-Term Rental Market? By: Dylan Sikes – AllPennyStocks.com News

Wednesday, April 17, 2024

For those that pay attention to the short-term rental market, you’ve probably heard quite a few horror stories as of late for those looking to buy homes to use as short-term rentals. Most of the negativity in the media is pertaining to the fiscal burdens of the high interest rate environment we’ve found ourselves in paired with the increases in property taxes across the board (at least in the bulk of the urban U.S., that is).

One segment of the short-term rental market that mainstream media doesn’t really focus on, however, is the hotel industry. There are a plethora of brands in which hotels operate under in the market, and LuxUrban Hotels Inc. (Nasdaq: LUXH) might be the most exciting one out there as far as smaller, publicly traded hospitality companies are concerned.

Just days following the company’s Q1 earnings release, JonesTrading reiterated their buy rating on the stock. Mind you, they did indeed lower their price target to $4.00/share, but seeing that shares of this micro cap are trading just over $1.00 during today’s session that’s quite a bit of upside!

Traders got excited about the prospects of this company as they pushed shares as high as $1.1199/share (+35.09%) at the early session high. This move is a breath of fresh air for long term holders that have been riding the multi-month downtrend, but could also be an indication of things to come!

LuxUrban Hotels Inc utilizes a long-term lease, asset-light business model to acquire and manage a growing portfolio of short-term rental properties in major metropolitan cities. It identifies, acquires, manages, and markets hotel rooms to business and vacation travelers under the consumer brand, LuxUrban.


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