Core Viewpoint - The article discusses the volatility in the stock market, highlighting that while it presents opportunities, it also increases risks, making both significant gains and declines possible. The focus is on identifying one stock with potential for high returns and two stocks that are not recommended for investment. Group 1: Stocks to Sell - Albany (AIN) is a global textiles and materials processing company with a rolling one-year beta of 1.45, trading at $49.48 per share, which corresponds to a forward P/E of 16.1x [2][4] - Orion (ORN) provides construction services for marine infrastructure and industrial projects, has a rolling one-year beta of 2.34, and is priced at $10.09 per share, reflecting a forward P/E of 40.4x [5][7] Group 2: Stock to Watch - Community Bank (CBU) is a financial holding company with a rolling one-year beta of 1.09, offering various financial services. Its annual revenue growth over the last two years was 10.8%, indicating an increase in market share [8][11] - CBU's earnings per share grew by 5.5% annually over the last two years, significantly outperforming its peers [11] - The expected tangible book value per share growth of 20.2% suggests that CBU's capital strength will likely improve over the next 12 months [11]

Core Viewpoint - Booking Holdings (NASDAQ: BKNG) has underperformed the market recently, trading at $4,940 per share with a 4.9% loss over the past six months, compared to the S&P 500's 19.5% gain [1][9] Group 1: Company Performance - Booking has demonstrated strong long-term revenue growth, achieving a compounded annual growth rate of 17.6% over the last three years, surpassing the average growth of consumer internet companies [3] - The company has an excellent free cash flow margin, averaging 34.3% over the last two years, indicating strong cash profitability and the ability to reinvest and return capital to investors [5][4] Group 2: Customer Metrics - Average revenue per booking (ARPB) growth has been modest at 3.8% over the last two years, which raises concerns about the company's ability to monetize effectively [6][7] - The increase in room nights booked is a more relevant metric for assessing long-term business potential, and the company will need to monitor ARPB growth closely [7] Group 3: Investment Considerations - Despite recent underperformance, Booking's stock trades at a forward EV/EBITDA of 14.8, suggesting potential value for investors [9]