Investors·2026-03-05 17:33Core Viewpoint - The report that OpenAI is scaling back its plans for direct shopping within ChatGPT has led to a relief rally in e-commerce stocks, including Booking Holdings, DoorDash, and Expedia, as it alleviates fears of major disruption in the online marketplace [1] Group 1: E-commerce Stock Reactions - Booking Holdings stock increased by over 8% to 4,605.23, while DoorDash gained more than 3%, Instacart rose nearly 2%, and Expedia saw an increase of nearly 11% [1] - The shift from on-platform shopping checkout to app-based shopping within ChatGPT is viewed positively, as it may enhance conversion rates for dedicated e-commerce sites [1] Group 2: Analyst Insights - Mizuho analyst Lloyd Walmsley indicated that the pivot away from on-platform shopping could signal the end of disruption fears for online travel agencies and food delivery services [1] - Wedbush analyst Scott Devitt noted that the change would be beneficial for retailers, as it allows them to maintain control over customer relationships and transactional data [1] Group 3: Market Context - E-commerce revenue growth has slowed since the pandemic, prompting companies to explore new initiatives and investments [1] - Booking Holdings' stock has rebounded nearly 200% from the start of 2023 to a record high of 5,839 in July, but has since pulled back by over 20% [1]