In many respects, you've left fundamentals land and have entered expectations land. Fundamentals can improve and the stock can trade off if expectations aren't met.
More Quotes from Mark Mahaney:
It's purely the earnings numbers. Sentiment was negative going into the numbers, with a widespread expectation there would be a miss -- including us.Mark Mahaney
When the company set the first pricing range over 100, it sent the message that pricing the shares in a widows and orphans fashion was not a goal.
Mark Mahaney
Even though they may be a seasonal trade, I'm not convinced that the holidays are the reason you want to own online commerce stocks.
Mark Mahaney
Expedia faces some very challenging industry dynamics right now, and we will have to wait and see whether the new team is up to the task,
Mark Mahaney
That's really impressive, ... This is a core tech long for investors. It's at its all-time high, and it should be.
Mark Mahaney
Sentiment on search has been neutral to negative this quarter. This is a data point that supports the strength in online advertising for the long-term,
Mark Mahaney
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